Short Interest in Akzo Nobel (OTCMKTS:AKZOY) Drops By 26.3%

Akzo Nobel (OTCMKTS:AKZOY) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 51,200 shares, a drop of 26.3% from the September 15th total of 69,500 shares. Based on an average daily trading volume, of 245,800 shares, the days-to-cover ratio is presently 0.2 days.

Akzo Nobel Stock Performance

OTCMKTS:AKZOY opened at $23.23 on Monday. The firm’s fifty day moving average is $21.45 and its 200-day moving average is $21.94. Akzo Nobel has a 52 week low of $19.40 and a 52 week high of $27.99. The firm has a market cap of $11.90 billion, a P/E ratio of 24.71, a P/E/G ratio of 0.77 and a beta of 1.30.

Akzo Nobel (OTCMKTS:AKZOY) last posted its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. Akzo Nobel had a net margin of 4.68% and a return on equity of 11.95%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. As a group, sell-side analysts anticipate that Akzo Nobel will post 1.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group downgraded shares of Akzo Nobel from a “neutral” rating to a “sell” rating in a research note on Monday, July 1st.

Akzo Nobel Company Profile

Akzo Nobel N.V. engages in the production and sale of paints and coatings worldwide. The company operates through two segments: Decorative Paints and Performance Coatings. It offers decorative paints, including paints, lacquers, and varnishes; and a range of mixing machines and color concepts for the building and renovation industry, as well as specialty coatings.