Sinopec Shanghai Petrochemical Co. (NYSE:SHI) Short Interest Update

Sinopec Shanghai Petrochemical Co. (NYSE:SHI) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 9,000 shares, a growth of 55.2% from the August 15th total of 5,800 shares. Based on an average daily volume of 46,200 shares, the short-interest ratio is presently 0.2 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balentine LLC acquired a new position in Sinopec Shanghai Petrochemical in the 2nd quarter valued at approximately $26,000. UBS Group AG boosted its position in shares of Sinopec Shanghai Petrochemical by 53.7% in the 2nd quarter. UBS Group AG now owns 1,867 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 652 shares during the last quarter. Quantum Capital Management boosted its position in shares of Sinopec Shanghai Petrochemical by 323.9% in the 1st quarter. Quantum Capital Management now owns 3,188 shares of the oil and gas company’s stock worth $78,000 after purchasing an additional 2,436 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Sinopec Shanghai Petrochemical by 26.4% in the 2nd quarter. Bank of Montreal Can now owns 3,702 shares of the oil and gas company’s stock worth $97,000 after purchasing an additional 774 shares during the last quarter. Finally, Aigen Investment Management LP raised its stake in Sinopec Shanghai Petrochemical by 15.6% during the 1st quarter. Aigen Investment Management LP now owns 7,086 shares of the oil and gas company’s stock worth $173,000 after buying an additional 956 shares during the period. Institutional investors own 1.16% of the company’s stock.

Several equities research analysts recently commented on SHI shares. Zacks Investment Research upgraded Sinopec Shanghai Petrochemical from a “sell” rating to a “hold” rating in a report on Wednesday, July 1st. ValuEngine lowered Sinopec Shanghai Petrochemical from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 1st. Finally, HSBC lowered Sinopec Shanghai Petrochemical from a “hold” rating to a “reduce” rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.00.

NYSE:SHI opened at $18.76 on Wednesday. The business’s fifty day moving average price is $21.57 and its 200 day moving average price is $24.45. Sinopec Shanghai Petrochemical has a 1-year low of $18.61 and a 1-year high of $32.02. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -22.33 and a beta of 0.67.

Sinopec Shanghai Petrochemical Company Profile

Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. The company operates through five segments: Synthetic Fibres, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.

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