Toromont Industries Ltd. (OTCMKTS:TMTNF) Sees Significant Decrease in Short Interest

Toromont Industries Ltd. (OTCMKTS:TMTNF) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 200,300 shares, a drop of 23.7% from the October 15th total of 262,500 shares. Based on an average trading volume of 6,300 shares, the days-to-cover ratio is currently 31.8 days.

Toromont Industries Price Performance

Shares of OTCMKTS TMTNF remained flat at $83.72 during midday trading on Friday. 15,134 shares of the stock were exchanged, compared to its average volume of 5,626. Toromont Industries has a 1 year low of $79.11 and a 1 year high of $98.22. The business’s 50-day simple moving average is $92.05 and its 200-day simple moving average is $90.39.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets restated an “outperform” rating on shares of Toromont Industries in a research note on Friday, October 18th.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.