Akbank T.A.S. (OTCMKTS:AKBTY) Sees Significant Increase in Short Interest

Akbank T.A.S. (OTCMKTS:AKBTY) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 12,900 shares, an increase of 437.5% from the September 15th total of 2,400 shares. Based on an average trading volume of 197,600 shares, the days-to-cover ratio is currently 0.1 days.

Shares of AKBTY remained flat at $$1.24 during mid-day trading on Thursday. The stock had a trading volume of 5,397 shares, compared to its average volume of 104,398. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day moving average is $1.32 and its 200-day moving average is $1.29. Akbank T.A.S. has a 12-month low of $1.13 and a 12-month high of $2.06. The stock has a market capitalization of $3.22 billion, a P/E ratio of 3.65 and a beta of 1.01.

Several analysts have weighed in on AKBTY shares. The Goldman Sachs Group raised Akbank T.A.S. from a “neutral” rating to a “buy” rating in a research report on Friday, June 25th. Societe Generale reaffirmed a “buy” rating on shares of Akbank T.A.S. in a research report on Thursday, July 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Akbank T.A.S. has an average rating of “Buy”.

Akbank T.A.S. Company Profile

Akbank TAS engages in the provision of commercial and private banking services. It operates through the following segments: Retail Banking; Commercial Banking, Corporate-Investment, Private Banking, and Wealth Management; and Treasury. The Retail Banking segment offers a variety of retail services such as deposit accounts, consumer loans, commercial installment loans, credit cards, insurance products and asset management services.

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