Electricité de France S.A. (OTCMKTS:ECIFY) Sees Significant Drop in Short Interest

Electricité de France S.A. (OTCMKTS:ECIFYGet Rating) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 138,600 shares, a drop of 51.1% from the April 15th total of 283,200 shares. Based on an average daily volume of 270,100 shares, the days-to-cover ratio is presently 0.5 days.

ECIFY has been the subject of several research reports. Sanford C. Bernstein cut shares of Electricité de France from an “outperform” rating to a “market perform” rating in a report on Monday, January 24th. Zacks Investment Research upgraded shares of Electricité de France from a “sell” rating to a “hold” rating in a research note on Tuesday, March 8th. HSBC cut shares of Electricité de France from a “buy” rating to a “hold” rating in a research note on Monday, January 17th. AlphaValue cut shares of Electricité de France to a “reduce” rating in a research note on Monday, February 14th. Finally, Morgan Stanley reduced their target price on shares of Electricité de France from €10.00 ($10.53) to €9.00 ($9.47) in a research note on Friday, March 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.48.

Shares of OTCMKTS:ECIFY traded up $0.05 during trading on Friday, reaching $1.72. The stock had a trading volume of 86,329 shares, compared to its average volume of 102,952. Electricité de France has a 52 week low of $1.52 and a 52 week high of $3.02. The stock has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $2.16.

The company also recently declared a dividend, which was paid on Friday, April 22nd. Stockholders of record on Thursday, April 14th were given a $0.0702 dividend. This represents a dividend yield of 8.02%. The ex-dividend date of this dividend was Wednesday, April 13th.

Electricité de France Company Profile (Get Rating)

Électricité de France SA engages in the energy industry production. It operates in the following business segments: Electricity and, Gas. It offers the following services: production, transport, distribution, trading, sale of energy and, energy services. The company was founded on June 17, 1955 and is headquartered in Paris, France.

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