Home Business Petroleo Brasileiro S.A.- Petrobras Sees Significant Growth in Short Interest

Petroleo Brasileiro S.A.- Petrobras Sees Significant Growth in Short Interest

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Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 51,328,068 shares, a growth of 10.2% from the November 30th total of 46,574,723 shares. Based on an average daily volume of 16,602,846 shares, the days-to-cover ratio is presently 3.1 days.

A number of equities research analysts have issued reports on PBR shares. Credit Suisse Group reissued a “buy” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Friday, September 15th.

ValuEngine downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Societe Generale downgraded Petroleo Brasileiro S.A.- Petrobras from a “buy” rating to a “hold” rating and boosted their price target for the company from $10.51 to $11.00 in a research report on Wednesday, October 18th.

Zacks Investment Research raised Petroleo Brasileiro S.A.- Petrobras from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Petroleo Brasileiro S.A.- Petrobras in a research report on Wednesday, October 4th.

One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.48.