Short Interest in Dollarama Inc. (OTCMKTS:DLMAF) Declines By 15.0%

Dollarama Inc. (OTCMKTS:DLMAF – Get Rating) was the target of a large drop in short interest in December. As of December 30th, there was short interest totalling 1,975,600 shares, a drop of 15.0% from the December 15th total of 2,324,200 shares. Based on an average trading volume of 8,400 shares, the days-to-cover ratio is presently 235.2 days.

Dollarama Stock Performance

Shares of DLMAF stock opened at $60.39 on Friday. The company has a 50 day moving average of $59.78 and a 200-day moving average of $59.72. Dollarama has a 12-month low of $47.88 and a 12-month high of $64.21.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Credit Suisse Group assumed coverage on shares of Dollarama in a research note on Monday, December 19th. They issued a “neutral” rating for the company. Canaccord Genuity Group increased their price objective on shares of Dollarama from C$80.00 to C$82.00 in a research note on Friday, December 9th. Scotiabank increased their price objective on shares of Dollarama from C$90.00 to C$93.00 in a research note on Monday, October 3rd. TD Securities increased their price objective on shares of Dollarama from C$89.00 to C$94.00 in a research note on Thursday, December 8th. Finally, National Bank Financial increased their price objective on shares of Dollarama from C$88.00 to C$90.00 in a research note on Thursday, December 8th.

Dollarama Company Profile

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Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal products. The company also sells its products through online store. As of July 31, 2022, it operated 1,444 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.