Dongfang Electric Co. Limited (OTCMKTS:DNGFF) Sees Large Increase in Short Interest

Dongfang Electric Co. Limited (OTCMKTS:DNGFF) was the target of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 167,721 shares, a growth of 209.9% from the July 30th total of 54,121 shares. Based on an average daily trading volume, of 134 shares, the short-interest ratio is currently 1,251.6 days.

Dongfang Electric Price Performance

Shares of OTCMKTS:DNGFF opened at $2.80 on Thursday. Dongfang Electric has a fifty-two week low of $2.00 and a fifty-two week high of $5.75. The firm has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $3.95.

Dongfang Electric Company Profile

Dongfang Electric Corporation (OTCMKTS: DNGFF) is a leading Chinese state-owned enterprise specializing in the design, manufacture and installation of large-scale power generation equipment. Headquartered in Chengdu, Sichuan Province, the company offers a comprehensive portfolio that spans steam turbines, gas turbines, hydro turbines, boilers, generator sets, wind turbines and nuclear power plant components. In addition to core manufacturing, Dongfang Electric provides engineering, procurement, construction and installation (EPCI) services, as well as operations and maintenance support for power projects.

Founded in 1958 as the Chengdu Electric Machinery Plant and reorganized into its current corporate structure in 1984, Dongfang Electric is supervised by China’s State-owned Assets Supervision and Administration Commission (SASAC).