Grupo Bimbo, S.A.B. de C.V. (OTCMKTS:GRBMF) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,048,800 shares, a decrease of 83.8% from the August 15th total of 12,642,000 shares. Based on an average trading volume of 98,800 shares, the days-to-cover ratio is currently 20.7 days.
GRBMF has been the topic of several analyst reports. Scotiabank downgraded shares of Grupo Bimbo from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 29th. Citigroup upgraded shares of Grupo Bimbo from a “neutral” rating to a “buy” rating in a research note on Friday, August 13th.
Shares of GRBMF traded up $0.03 during trading hours on Wednesday, reaching $2.60. 61,000 shares of the stock traded hands, compared to its average volume of 10,538. Grupo Bimbo has a 52-week low of $1.69 and a 52-week high of $2.70. The company’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.20.
Grupo Bimbo SA de CV engages in the manufacturing, distribution, and sale of baked products. It operates through the following geographical segments: Mexico, North America, Latin America, and Europe. It offers fresh and frozen sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks, and confectionery goods.
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