Emera Incorporated (OTCMKTS:EMRAF) Sees Significant Decline in Short Interest

Emera Incorporated (OTCMKTS:EMRAF) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 3,266,000 shares, a decline of 16.0% from the September 30th total of 3,886,300 shares. Based on an average daily volume of 37,900 shares, the days-to-cover ratio is currently 86.2 days.

Emera Stock Performance

Shares of OTCMKTS:EMRAF traded down $0.71 during trading on Tuesday, reaching $37.54. 587 shares of the company traded hands, compared to its average volume of 27,747. The company’s 50 day moving average is $37.98 and its two-hundred day moving average is $35.77. Emera has a 52 week low of $32.00 and a 52 week high of $40.00.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reduced their price target on Emera from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, July 1st.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.