Short Interest in UPM-Kymmene Oyj (OTCMKTS:UPMMY) Drops By 90.0%

UPM-Kymmene Oyj (OTCMKTS:UPMMY) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 800 shares, a drop of 90.0% from the August 15th total of 8,000 shares. Based on an average daily volume of 24,800 shares, the days-to-cover ratio is presently 0.0 days.

UPMMY has been the topic of several research analyst reports. Credit Suisse Group reiterated a “neutral” rating on shares of UPM-Kymmene Oyj in a research report on Monday, July 26th. Danske lowered shares of UPM-Kymmene Oyj from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.

Shares of OTCMKTS UPMMY traded down $0.47 during trading on Wednesday, hitting $39.14. The company had a trading volume of 9,863 shares, compared to its average volume of 14,739. The stock has a fifty day simple moving average of $40.29 and a two-hundred day simple moving average of $39.18. UPM-Kymmene Oyj has a fifty-two week low of $27.80 and a fifty-two week high of $41.77.

About UPM-Kymmene Oyj

UPM-Kymmene Oyj engages in the forest-based bio industry. It operates through UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers, UPM Plywood, and Other operations segments. The company provides softwood, birch, and eucalyptus pulp for tissue, specialty, and graphic papers and packaging; sawn timber for joinery, packaging, furniture, planning, and construction industries; and wood-based renewable diesel and renewable naphtha for the petrochemical industry.

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