Short Interest in Power Co. of Canada (OTCMKTS:PWCDF) Increases By 232.1%

Power Co. of Canada (OTCMKTS:PWCDF) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 5,809,800 shares, an increase of 232.1% from the March 15th total of 1,749,400 shares. Based on an average trading volume of 27,800 shares, the short-interest ratio is presently 209.0 days.

Shares of PWCDF stock traded down $0.13 during mid-day trading on Thursday, hitting $27.27. 17,532 shares of the stock were exchanged, compared to its average volume of 16,760. The stock’s fifty day simple moving average is $25.97 and its two-hundred day simple moving average is $23.28. Power Co. of Canada has a 12-month low of $13.38 and a 12-month high of $27.52.

Several equities analysts recently commented on PWCDF shares. Royal Bank of Canada increased their target price on Power Co. of Canada from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 18th. CIBC increased their target price on Power Co. of Canada from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, March 19th. Desjardins increased their target price on Power Co. of Canada from $34.00 to $37.00 and gave the company a “buy” rating in a report on Monday, March 22nd. Scotiabank increased their target price on Power Co. of Canada from $38.00 to $38.50 and gave the company a “sector perform” rating in a report on Friday, March 19th. Finally, TD Securities increased their target price on Power Co. of Canada from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, March 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.79.

About Power Co. of Canada

Power Corporation of Canada operates as an international management and holding company in North America, Europe, and Asia. It operates through three segments: Lifeco, IGM Financial, and GBL. The company offers life, disability, critical illness, accidental death, dismemberment, dental protection, creditor, and health insurance; retirement and investment management; asset management; and reinsurance and retrocession; investment advisory, financial planning, and related services; and fund, protection, and wealth management services.

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