Short Interest in ConvaTec Group PLC (OTCMKTS:CNVVY) Declines By 99.6%

ConvaTec Group PLC (OTCMKTS:CNVVY) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 100 shares, a decline of 99.6% from the August 15th total of 27,900 shares. Based on an average daily volume of 40,200 shares, the days-to-cover ratio is currently 0.0 days.

ConvaTec Group Price Performance

OTCMKTS:CNVVY traded down $0.08 on Thursday, reaching $11.92. 10,463 shares of the company’s stock traded hands, compared to its average volume of 29,305. The stock has a 50-day simple moving average of $12.46 and a 200-day simple moving average of $13.04. ConvaTec Group has a 12 month low of $9.90 and a 12 month high of $15.40.

ConvaTec Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.0584 per share. The ex-dividend date is Friday, August 23rd.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNVVY. Barclays raised shares of ConvaTec Group to a “strong-buy” rating in a report on Wednesday, July 31st. UBS Group raised ConvaTec Group to a “strong-buy” rating in a report on Wednesday, June 26th. Finally, Berenberg Bank raised ConvaTec Group to a “strong-buy” rating in a report on Tuesday, August 6th.

About ConvaTec Group

ConvaTec Group PLC engages in the development, manufacturing, and sale of medical products, services, and technologies in Europe, North America, and internationally. The company offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, and acute conditions resulting from traumatic injury and burns.