Short Interest in Whitehaven Coal Limited (OTCMKTS:WHITF) Declines By 85.5%

Whitehaven Coal Limited (OTCMKTS:WHITF) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 185,948 shares, a decline of 85.5% from the August 15th total of 1,280,547 shares. Based on an average daily trading volume, of 17,706 shares, the short-interest ratio is presently 10.5 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WHITF shares. Zacks Research downgraded Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group raised shares of Whitehaven Coal from a “sell” rating to a “hold” rating and set a $8.10 target price for the company in a research report on Wednesday, July 8th. Finally, UBS Group lowered shares of Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.10.

Whitehaven Coal Trading Down 0.5%

Shares of WHITF traded down $0.03 during mid-day trading on Friday, reaching $6.40. 1,500 shares of the stock traded hands, compared to its average volume of 14,956. The stock has a fifty day simple moving average of $5.45 and a 200 day simple moving average of $5.80. Whitehaven Coal has a 12-month low of $3.96 and a 12-month high of $6.85.

About Whitehaven Coal

Whitehaven Coal (OTCMKTS:WHITF) is an Australian coal producer primarily engaged in the exploration, development, production and sale of coal in New South Wales. The company’s operating assets are located in the resource-rich Gunnedah Basin and the Hunter Valley region, where it develops both open-cut and underground mining projects. Whitehaven focuses on delivering high-quality coal products to industrial and power generation markets.

The company’s main operating mines include Maules Creek, Narrabri and its flagship Whitehaven Mine, each equipped with modern mining and processing facilities.