Grupo Bimbo, S.A.B. de C.V. (OTCMKTS:GRBMF) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,048,800 shares, a decline of 83.8% from the August 15th total of 12,642,000 shares. Based on an average trading volume of 98,800 shares, the short-interest ratio is presently 20.7 days.
Several equities analysts recently issued reports on the stock. Citigroup raised shares of Grupo Bimbo from a “neutral” rating to a “buy” rating in a research note on Friday, August 13th. Scotiabank lowered Grupo Bimbo from an “outperform” rating to a “sector perform” rating in a research report on Thursday, July 29th.
Grupo Bimbo stock traded up $0.03 during mid-day trading on Wednesday, hitting $2.60. The stock had a trading volume of 61,000 shares, compared to its average volume of 10,538. The stock has a 50-day simple moving average of $2.37 and a two-hundred day simple moving average of $2.20. Grupo Bimbo has a 12 month low of $1.69 and a 12 month high of $2.70.
Grupo Bimbo SA de CV engages in the manufacturing, distribution, and sale of baked products. It operates through the following geographical segments: Mexico, North America, Latin America, and Europe. It offers fresh and frozen sliced bread, buns, cookies, snack cakes, English muffins, bagels, pre-packaged foods, tortillas, salted snacks, and confectionery goods.
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