Associated British Foods plc (OTCMKTS:ASBFY) Sees Large Drop in Short Interest

Associated British Foods plc (OTCMKTS:ASBFY) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 2,300 shares, a drop of 92.9% from the January 31st total of 32,300 shares. Based on an average daily volume of 50,000 shares, the days-to-cover ratio is currently 0.0 days.

Associated British Foods Trading Up 1.1 %

ASBFY traded up $0.27 on Friday, reaching $23.97. 14,105 shares of the company’s stock were exchanged, compared to its average volume of 23,039. Associated British Foods has a twelve month low of $22.69 and a twelve month high of $35.26. The company’s 50 day moving average is $24.33 and its 200-day moving average is $27.89. The company has a quick ratio of 0.98, a current ratio of 1.78 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

Separately, Citigroup cut Associated British Foods from a “neutral” rating to a “sell” rating in a report on Thursday, January 16th.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.