Altaba Inc (NASDAQ:AABA) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 40,812,828 shares, a growth of 14.1% from the July 13th total of 35,761,739 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average trading volume of 11,488,557 shares, the short-interest ratio is currently 3.6 days.
Shares of Altaba stock opened at $70.97 on Monday. Altaba has a twelve month low of $56.84 and a twelve month high of $82.45.
A number of research analysts recently weighed in on the stock. MKM Partners raised their price target on shares of Altaba to $124.00 in a research note on Friday, May 18th. Credit Suisse Group raised their price target on shares of Altaba from $76.00 to $88.00 in a research note on Friday, June 8th. BidaskClub lowered shares of Altaba from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. ValuEngine raised shares of Altaba from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Altaba from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $96.75.
Altaba Inc operates as a non-diversified, closed-end management investment company in the United States. Its assets consist primarily of equity investments, short-term debt investments, and cash. The company was formerly known as Yahoo! Inc and changed its name to Altaba Inc in June 2017. Altaba Inc was founded in 1994 and is based in New York, New York.
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