Vedanta Ltd (NYSE:VEDL) Sees Significant Increase in Short Interest

Vedanta Ltd (NYSE:VEDL) was the recipient of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 1,400,000 shares, a growth of 9.4% from the November 14th total of 1,280,000 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 619,000 shares, the short-interest ratio is currently 2.3 days.

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Vedanta during the 2nd quarter worth $47,000. Lindbrook Capital LLC increased its stake in Vedanta by 242.2% during the 3rd quarter. Lindbrook Capital LLC now owns 4,658 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,297 shares during the period. Corient Capital Partners LLC purchased a new stake in Vedanta during the 2nd quarter worth $104,000. Squarepoint Ops LLC purchased a new stake in Vedanta during the 3rd quarter worth $91,000. Finally, Virtu Financial LLC purchased a new stake in Vedanta during the 3rd quarter worth $101,000. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

Vedanta stock opened at $8.58 on Friday. Vedanta has a 12-month low of $7.04 and a 12-month high of $11.84. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 7.39 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.63. The firm’s fifty day moving average price is $8.28 and its 200 day moving average price is $8.70.

About Vedanta

Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.

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