EDP Renováveis, S.A. (OTCMKTS:EDRVF) Sees Significant Increase in Short Interest

EDP Renováveis, S.A. (OTCMKTS:EDRVF) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 984,600 shares, a growth of 8.0% from the August 15th total of 911,700 shares. Based on an average daily volume of 2,000 shares, the days-to-cover ratio is currently 492.3 days.

EDP Renováveis Price Performance

EDP Renováveis stock opened at $18.11 on Tuesday. The stock’s 50 day moving average price is $18.94 and its 200 day moving average price is $20.53. EDP Renováveis has a one year low of $17.69 and a one year high of $25.41.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EDRVF shares. Societe Generale upgraded EDP Renováveis from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. JPMorgan Chase & Co. cut EDP Renováveis from an “overweight” rating to a “neutral” rating in a report on Tuesday, May 30th. Finally, Morgan Stanley raised EDP Renováveis from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EDP Renováveis currently has a consensus rating of “Hold” and a consensus price target of $21.97.

About EDP Renováveis

EDP Renováveis, SA, a renewable energy company, plans, constructs, operates, and maintains electric power generation plants. The company operates wind and solar farms. As of December 31, 2021, it had an installed capacity of 5,908 megawatts in the United States; 2,194 megawatts in Spain; 795 megawatts in Brazil; and 1,142 megawatts in Portugal.