Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) Sees Significant Growth in Short Interest

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 12,884 shares, an increase of ? from the May 14th total of 0 shares. Based on an average daily volume of 6,467 shares, the short-interest ratio is presently 2.0 days.

Svenska Cellulosa Aktiebolaget SCA (publ) Stock Down 8.1%

Shares of OTCMKTS:SCABY opened at C$10.32 on Tuesday. Svenska Cellulosa Aktiebolaget SCA has a 12-month low of C$10.00 and a 12-month high of C$14.60. The business has a fifty day simple moving average of C$11.73 and a 200 day simple moving average of C$12.23.

Analysts Set New Price Targets

Separately, BNP Paribas Exane initiated coverage on shares of Svenska Cellulosa Aktiebolaget SCA (publ) in a research report on Wednesday, June 10th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Svenska Cellulosa Aktiebolaget SCA (publ) currently has a consensus rating of “Hold”.

About Svenska Cellulosa Aktiebolaget SCA (publ)

Svenska Cellulosa Aktiebolaget SCA (publ) is a Sweden?based forestry and paper products company whose American depositary shares trade over the counter under the symbol SCABY. The company’s core operations encompass sustainable forest management, pulp production and the manufacture of renewable packaging materials. SCA positions itself as a provider of high?quality containerboard, corrugated packaging solutions and market pulp, serving a range of industries from food and beverage to e-commerce logistics.

SCA manages one of Europe’s largest private forest estates, principally located in northern Sweden, where it applies certified sustainable practices to balance wood production, biodiversity and carbon sequestration.