Agri Bank China (OTCMKTS:ACGBY) Sees Significant Growth in Short Interest

Agri Bank China (OTCMKTS:ACGBY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 31,254 shares, an increase of 120.0% from the August 15th total of 14,208 shares. Based on an average daily volume of 46,275 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.0% of the shares of the stock are sold short.

Agri Bank China Stock Up 0.7%

Shares of OTCMKTS:ACGBY opened at $20.48 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $19.23 and a two-hundred day moving average of $18.50. The stock has a market cap of $286.65 billion, a P/E ratio of 7.09 and a beta of 0.10. Agri Bank China has a 52-week low of $15.85 and a 52-week high of $21.13.

Agri Bank China (OTCMKTS:ACGBY) last posted its quarterly earnings results on Friday, August 28th. The company reported $0.73 EPS for the quarter. The business had revenue of $30.09 billion for the quarter, compared to analyst estimates of $29.06 billion. Agri Bank China had a return on equity of 9.55% and a net margin of 21.51%.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Agri Bank China from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Agri Bank China Company Profile

Agricultural Bank of China Limited, also known as AgBank, is a state-owned commercial bank headquartered in Beijing. The bank provides banking and financial services to individuals, businesses, government institutions and agricultural customers, with a particular focus on rural communities, farmers and the broader agricultural sector.

Its products and services include personal and corporate deposits, loans, payment and settlement services, wealth management, investment banking, financial markets activities and electronic banking.