Coca-Cola HBC AG (OTCMKTS:CCHGY) Sees Significant Decline in Short Interest

Coca-Cola HBC AG (OTCMKTS:CCHGYGet Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 4,200 shares, a decrease of 60.7% from the April 30th total of 10,700 shares. Based on an average daily trading volume, of 83,900 shares, the short-interest ratio is currently 0.1 days.

Coca-Cola HBC stock traded down $0.29 during trading hours on Friday, reaching $22.19. 23,142 shares of the company’s stock traded hands, compared to its average volume of 39,220. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.05 and a current ratio of 1.25. Coca-Cola HBC has a fifty-two week low of $18.89 and a fifty-two week high of $39.23. The firm’s 50 day moving average is $20.89 and its 200-day moving average is $27.93.

CCHGY has been the topic of several research reports. Zacks Investment Research upgraded shares of Coca-Cola HBC from a “strong sell” rating to a “hold” rating in a research report on Monday, May 16th. Barclays upped their price target on shares of Coca-Cola HBC from GBX 1,800 ($22.65) to GBX 1,900 ($23.91) in a research report on Wednesday, April 27th. Morgan Stanley downgraded shares of Coca-Cola HBC from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Coca-Cola HBC from GBX 2,900 ($36.49) to GBX 2,800 ($35.23) in a research report on Wednesday, April 20th. Finally, JPMorgan Chase & Co. downgraded shares of Coca-Cola HBC from an “overweight” rating to a “neutral” rating and cut their target price for the company from GBX 2,500 ($31.46) to GBX 1,900 ($23.91) in a research report on Monday, March 14th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1,335.23.

About Coca-Cola HBC (Get Rating)

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages worldwide. The company offers sparkling soft drinks, hydration drinks, juices, ready-to-drink tea, energy drinks, coffee, water, plant-based drinks, premium spirits and flavored alcoholic beverages, and snacks.

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