Bank of Ireland Group plc (OTCMKTS:BKRIY) Sees Significant Increase in Short Interest

Bank of Ireland Group plc (OTCMKTS:BKRIY) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 11,300 shares, an increase of 135.4% from the September 15th total of 4,800 shares. Based on an average daily volume of 2,100 shares, the days-to-cover ratio is presently 5.4 days.

Bank of Ireland Group stock remained flat at $$5.69 during midday trading on Thursday. 20 shares of the company were exchanged, compared to its average volume of 3,477. Bank of Ireland Group has a 12 month low of $2.11 and a 12 month high of $6.60. The stock has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $5.72.

Several analysts have commented on the stock. Societe Generale reiterated a “buy” rating on shares of Bank of Ireland Group in a research note on Tuesday, August 17th. Morgan Stanley restated an “equal weight” rating on shares of Bank of Ireland Group in a research report on Wednesday, August 4th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Bank of Ireland Group in a research report on Monday, August 9th. Barclays restated an “overweight” rating on shares of Bank of Ireland Group in a research report on Wednesday, August 11th. Finally, WH Ireland upgraded shares of Bank of Ireland Group from a “neutral” rating to an “outperform” rating and set a €6.20 ($7.29) target price on the stock in a research report on Thursday, August 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.20.

About Bank of Ireland Group

Bank of Ireland Group Plc is a holding company, which engages in financial and banking solutions. Its services include current account and deposit services, overdrafts, term loans, mortgages, business and corporate lending, international asset financing, leasing, installment credit, invoice discounting, foreign facilities, interest and exchange rate, hedging instruments, life assurance, pension and protection products.

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