QBE Insurance Group Limited – Sponsored ADR (OTCMKTS:QBIEY) Sees Large Drop in Short Interest

QBE Insurance Group Limited – Sponsored ADR (OTCMKTS:QBIEY) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 25,813 shares, a drop of 69.6% from the July 30th total of 84,947 shares. Based on an average daily trading volume, of 90,615 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group lowered shares of QBE Insurance Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research upgraded QBE Insurance Group to a “hold” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

QBE Insurance Group Stock Performance

OTCMKTS QBIEY opened at $15.69 on Friday. The company’s fifty day moving average is $17.10 and its two-hundred day moving average is $16.16. QBE Insurance Group has a 52-week low of $12.46 and a 52-week high of $18.11.

About QBE Insurance Group

QBE Insurance Group Ltd is an Australian-based multinational insurer that provides a broad range of general insurance and reinsurance products. Headquartered in Sydney, the company operates through two core divisions—General Insurance and Reinsurance—serving retail, commercial and specialty customers across diverse industries. QBE’s offerings encompass property and casualty coverage as well as risk management solutions designed to meet the needs of individuals, small-to-medium enterprises and large corporations.

Founded in 1886 as North Queensland Insurance Co, the business adopted the QBE name in 1973 following a series of mergers with Bankers and Traders Insurance Co and Equitable Fire & General Insurance Co Over more than a century of operations, the firm has expanded its footprint to more than 27 countries, with significant market presence in Australia, North America, Europe, Asia and Latin America.