Singapore Telecommunications Limited (OTCMKTS:SGAPY – Get Rating) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 15,100 shares, an increase of 277.5% from the April 30th total of 4,000 shares. Based on an average daily trading volume, of 57,600 shares, the short-interest ratio is currently 0.3 days.
Singapore Telecommunications Price Performance
Shares of SGAPY traded down $0.25 during midday trading on Friday, reaching $18.37. 32,145 shares of the stock were exchanged, compared to its average volume of 48,843. Singapore Telecommunications has a 52 week low of $16.19 and a 52 week high of $20.82. The company’s 50 day moving average is $18.80 and its two-hundred day moving average is $18.83.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. lowered Singapore Telecommunications from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 15th.
Singapore Telecommunications Company Profile
Singapore Telecommunications Ltd. is an investment holding company, which engages in the provision of telecommunications systems and services. It operates through the following segments: Group Consumer, Group Enterprise, Group Digital Life, and Corporate. The Group Consumer segment includes mobile, pay TV, fixed broadband and voice, as well as equipment sales.
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