Brf S.A. (NYSE:BRFS) Sees Large Drop in Short Interest

Brf S.A. (NYSE:BRFSGet Rating) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 13,150,000 shares, a decrease of 8.6% from the August 15th total of 14,380,000 shares. Based on an average daily trading volume, of 3,730,000 shares, the short-interest ratio is currently 3.5 days.

Hedge Funds Weigh In On BRF

A number of large investors have recently made changes to their positions in BRFS. Qube Research & Technologies Ltd acquired a new position in shares of BRF during the fourth quarter worth $59,000. Quantbot Technologies LP acquired a new position in shares of BRF during the second quarter worth $62,000. Wetherby Asset Management Inc. increased its position in shares of BRF by 20.2% during the fourth quarter. Wetherby Asset Management Inc. now owns 17,648 shares of the company’s stock worth $72,000 after purchasing an additional 2,962 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of BRF during the fourth quarter worth $89,000. Finally, Veriti Management LLC acquired a new position in shares of BRF during the second quarter worth $117,000. 8.43% of the stock is owned by institutional investors and hedge funds.

BRF Stock Down 1.5 %

BRF stock opened at $2.70 on Thursday. The business has a fifty day moving average of $3.04 and a two-hundred day moving average of $3.03. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 1.58. The firm has a market cap of $2.18 billion, a P/E ratio of -10.38 and a beta of 1.76. BRF has a twelve month low of $2.30 and a twelve month high of $5.19.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their target price on BRF from $2.50 to $2.80 and gave the stock a “sell” rating in a report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, BRF currently has a consensus rating of “Hold” and a consensus price target of $2.80.

BRF Company Profile

(Get Rating)

BRF SA focuses on raising, producing, and slaughtering poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, and other products. The company's product portfolio comprises meat products, including frozen whole and cut chicken, frozen pork, and beef; processed food products, such as marinated, frozen, whole and cut chicken, roosters, turkey meat, sausages, ham products, bologna, frankfurters, salamis, bacon, cold meats, other smoked products, chicken sausages, chicken hot dogs, and chicken bologna; and frozen processed meats comprising hamburgers, steaks, breaded meat products, kibbeh, and meatballs.

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