Glencore Plc (OTCMKTS:GLCNF) Sees Large Growth In Short Interest

Glencore plc (OTCMKTS:GLCNF – Get Rating) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 2,215,700 shares, an increase of 35.3% from the April 15th total of 1,637,200 shares. Based on an average trading volume of 193,500 shares, the short-interest ratio is currently 11.5 days.

Glencore stock opened at $5.62 on Monday. The firm has a fifty day simple moving average of $6.37 and a two-hundred day simple moving average of $5.64. Glencore has a twelve month low of $3.98 and a twelve month high of $7.00.

Several analysts recently issued reports on GLCNF shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $590.00 target price on shares of Glencore in a report on Tuesday, April 5th. Barclays reaffirmed a “buy” rating and set a $680.00 target price on shares of Glencore in a research report on Thursday, March 24th.

About Glencore (Get Rating)

Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.

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