J Sainsbury plc (OTCMKTS:JSAIY) Sees Significant Drop in Short Interest

Posted by MarketBeat News on Aug 4th, 2022

J Sainsbury plc (OTCMKTS:JSAIY – Get Rating) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 99,700 shares, a decline of 16.4% from the June 30th total of 119,300 shares. Based on an average daily trading volume, of 162,500 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JSAIY shares. Sanford C. Bernstein upgraded J Sainsbury from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 6th. Jefferies Financial Group upgraded J Sainsbury from a “hold” rating to a “buy” rating in a report on Monday, April 11th. Finally, JPMorgan Chase & Co. lowered their target price on J Sainsbury from GBX 230 ($2.82) to GBX 190 ($2.33) in a report on Friday, April 29th.

J Sainsbury Stock Performance

Shares of J Sainsbury stock opened at $10.86 on Thursday. The stock’s 50 day simple moving average is $10.65 and its 200-day simple moving average is $12.58. J Sainsbury has a 1-year low of $9.81 and a 1-year high of $18.68.

J Sainsbury Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, July 25th. Stockholders of record on Friday, June 10th were issued a dividend of $0.472 per share. This represents a dividend yield of 5.41%. The ex-dividend date was Thursday, June 9th.

About J Sainsbury

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J Sainsbury plc, together with its subsidiaries, engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom and the Republic of Ireland. It operates through three segments: Retail – Food, Retail – General Merchandise and Clothing, and Financial Services.