Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Sees Significant Growth in Short Interest

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 35,835 shares, an increase of 240.4% from the January 29th total of 10,527 shares. Based on an average daily trading volume, of 79,508 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the company’s shares are sold short. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 79,508 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Oversea-Chinese Banking from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Oversea-Chinese Banking has a consensus rating of “Strong Buy”.

Oversea-Chinese Banking Price Performance

OVCHY traded down $0.06 during trading hours on Friday, reaching $33.74. 65,773 shares of the stock traded hands, compared to its average volume of 33,451. Oversea-Chinese Banking has a fifty-two week low of $20.70 and a fifty-two week high of $35.85. The firm’s fifty day simple moving average is $32.43 and its two-hundred day simple moving average is $28.81.

Oversea-Chinese Banking Company Profile

Oversea-Chinese Banking Corporation Limited (commonly known as OCBC) is a Singapore-based regional bank that provides a broad range of banking and financial services to retail, corporate and institutional customers. Its core activities include consumer banking, wealth management, commercial and corporate banking, treasury and markets, trade finance, and transaction banking. OCBC also conducts investment banking activities and offers asset management services, and its group structure includes insurance and other financial services delivered through affiliated subsidiaries and regional units.

The bank traces its origins to a 1932 merger of several Chinese-named banks in Singapore and has since grown into one of the region’s larger financial institutions with a significant presence across Southeast Asia and Greater China.