Sika AG (OTCMKTS:SXYAY) Sees Significant Drop in Short Interest

Sika AG (OTCMKTS:SXYAY) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 10,200 shares, a decrease of 59.5% from the September 15th total of 25,200 shares. Based on an average daily volume of 117,400 shares, the days-to-cover ratio is currently 0.1 days.

Several equities research analysts recently weighed in on the stock. Credit Suisse Group set a $34.19 price objective on shares of Sika and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Morgan Stanley set a $34.19 target price on shares of Sika and gave the stock an “overweight” rating in a report on Friday, July 23rd. UBS Group restated a “neutral” rating on shares of Sika in a research report on Monday, July 26th. Berenberg Bank reiterated a “buy” rating on shares of Sika in a research report on Monday, July 26th. Finally, Barclays restated an “overweight” rating on shares of Sika in a research note on Monday, October 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.19.

Shares of OTCMKTS:SXYAY traded up $1.07 on Thursday, hitting $33.32. The company had a trading volume of 25,558 shares, compared to its average volume of 57,712. The stock has a 50 day moving average price of $34.76 and a 200 day moving average price of $32.84. Sika has a 1-year low of $24.31 and a 1-year high of $36.59.

Sika Company Profile

Sika AG engages in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle. It offers solutions for concrete, waterproofing, cement additives, rigid bonding, joint sealing, and tunneling and mining. The company was founded by Kaspar Winkler in 1910 and is headquartered in Baar, Switzerland.

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