Aecon Group Inc. (OTCMKTS:AEGXF) Sees Significant Growth in Short Interest

Aecon Group Inc. (OTCMKTS:AEGXFGet Rating) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 544,600 shares, an increase of 98.7% from the April 30th total of 274,100 shares. Based on an average daily volume of 800 shares, the days-to-cover ratio is currently 680.8 days.

OTCMKTS:AEGXF opened at $11.70 on Friday. Aecon Group has a fifty-two week low of $10.64 and a fifty-two week high of $17.47. The firm’s fifty day simple moving average is $12.15 and its 200-day simple moving average is $12.83.

Several analysts recently commented on AEGXF shares. Royal Bank of Canada reduced their price target on shares of Aecon Group from C$20.00 to C$18.00 in a research report on Wednesday, March 2nd. Raymond James reduced their price target on shares of Aecon Group from C$24.00 to C$23.00 in a research report on Thursday, March 3rd. BMO Capital Markets reduced their price target on shares of Aecon Group from C$18.00 to C$17.00 in a research report on Friday, April 29th. TD Securities reduced their price target on shares of Aecon Group from C$22.00 to C$19.50 in a research report on Thursday, March 3rd. Finally, Canaccord Genuity Group dropped their price objective on shares of Aecon Group from C$25.00 to C$20.00 and set a “buy” rating on the stock in a research note on Thursday, March 3rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $19.31.

About Aecon Group (Get Rating)

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses primarily on the civil infrastructure, urban transportation systems, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.

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