Rexel S.A. (OTCMKTS:RXEEY) Sees Significant Growth in Short Interest

Rexel S.A. (OTCMKTS:RXEEY) was the target of a significant growth in short interest in October. As of October 30th, there was short interest totaling 7,310 shares, a growth of 137.6% from the October 15th total of 3,076 shares. Based on an average daily volume of 73,518 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Morgan Stanley reissued an “overweight” rating on shares of Rexel in a report on Tuesday, October 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rexel presently has an average rating of “Moderate Buy”.

Rexel Price Performance

Shares of RXEEY stock traded down $0.64 during trading hours on Friday, hitting $40.54. The stock had a trading volume of 44,598 shares, compared to its average volume of 18,875. The stock’s 50 day moving average is $39.99 and its 200 day moving average is $41.73. Rexel has a twelve month low of $34.86 and a twelve month high of $47.13.

About Rexel

Rexel is a France-based distributor of electrical products and services, serving professional customers such as electricians, contractors, industrial companies and building operators. The company supplies equipment used in residential, commercial and industrial projects, including electrical installation materials, lighting, automation and control systems, cables, and energy-management solutions. In addition to product distribution, Rexel provides services such as technical advice, logistics support and digital tools designed to help customers plan and manage projects.