Magazine Luiza S.A. (OTCMKTS:MGLUY) Sees Significant Growth in Short Interest

Magazine Luiza S.A. (OTCMKTS:MGLUY) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 5,579 shares, an increase of 335.5% from the June 30th total of 1,281 shares. Based on an average daily volume of 1,908 shares, the short-interest ratio is presently 2.9 days.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded Magazine Luiza to a “neutral” rating in a research note on Friday, June 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Magazine Luiza currently has a consensus rating of “Hold”.

Magazine Luiza Stock Down 3.8%

Shares of OTCMKTS MGLUY opened at $3.59 on Friday. The firm’s 50-day moving average price is $4.17 and its 200-day moving average price is $6.02. Magazine Luiza has a 52-week low of $3.25 and a 52-week high of $8.58.

Magazine Luiza Company Profile

Magazine Luiza SA engages in the retail sale of consumer goods. It operates through Retail, Financial Operations, Insurance Operations, and Other Services segments. The company also grants credit and provides extended warranties for its products. In addition, it is involved in the provision of consortium and management services; and e-commerce of perfumes, cosmetics, sports, and fashion products, as well as product delivery management and software development services. Further, the company provides integration, logistics, and technological solutions, as well as resale goods and provision of services in the stores, electronic and food delivery management platform.