Short Interest in J Sainsbury plc (OTCMKTS:JSAIY) Drops By 85.4%

J Sainsbury plc (OTCMKTS:JSAIY) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 8,100 shares, a drop of 85.4% from the February 28th total of 55,600 shares. Based on an average trading volume of 51,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

J Sainsbury Stock Down 0.3 %

Shares of OTCMKTS:JSAIY traded down $0.04 during midday trading on Thursday, hitting $12.28. The company’s stock had a trading volume of 24,245 shares, compared to its average volume of 44,722. J Sainsbury has a fifty-two week low of $12.09 and a fifty-two week high of $16.43. The stock’s 50 day simple moving average is $12.94 and its 200 day simple moving average is $13.79. The company has a current ratio of 0.74, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

Separately, Hsbc Global Res upgraded J Sainsbury from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Four analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

About J Sainsbury

J Sainsbury plc, together with its subsidiaries, engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom and the Republic of Ireland. It operates through three segments: Retail Food, Retail General Merchandise and Clothing, and Financial Services.