Mitie Group plc (OTCMKTS:MITFF) Sees Significant Drop in Short Interest

Mitie Group plc (OTCMKTS:MITFF) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 39,458 shares, a drop of 88.6% from the July 15th total of 344,801 shares. Based on an average daily trading volume, of 11,031 shares, the days-to-cover ratio is presently 3.6 days.

Analysts Set New Price Targets

Several brokerages have recently commented on MITFF. Royal Bank Of Canada restated an “outperform” rating on shares of Mitie Group in a research report on Wednesday, April 29th. BNP Paribas Exane started coverage on shares of Mitie Group in a research note on Monday, April 27th. They issued a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Mitie Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Mitie Group presently has a consensus rating of “Hold”.

Mitie Group Stock Performance

Mitie Group stock remained flat at $2.64 during midday trading on Thursday. Mitie Group has a 12-month low of $1.75 and a 12-month high of $2.81. The business’s fifty day moving average is $2.31 and its two-hundred day moving average is $2.38.

Mitie Group Company Profile

Mitie Group plc is a leading provider of facilities management and professional services in the United Kingdom. The company offers an integrated suite of solutions spanning cleaning, security, catering, engineering maintenance, energy management and waste disposal. Through its focus on lifecycle management and sustainability, Mitie helps organisations optimise operational efficiency, reduce environmental impact and maintain compliance across their property portfolios.

Serving both public and private sector clients, Mitie delivers tailored service offerings to industries such as healthcare, education, transportation, retail and government.