Glencore plc (OTCMKTS:GLCNF) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 532,600 shares, a decrease of 30.5% from the August 15th total of 766,800 shares. Based on an average daily trading volume, of 86,900 shares, the short-interest ratio is presently 6.1 days.
Separately, Morgan Stanley upgraded shares of Glencore to a “buy” rating and set a $360.00 target price for the company in a research report on Friday.
GLCNF stock traded down $0.19 during mid-day trading on Tuesday, hitting $4.32. 74,444 shares of the company were exchanged, compared to its average volume of 65,923. Glencore has a 12-month low of $1.97 and a 12-month high of $4.94. The business has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $4.33.
Glencore Plc engages in the production and marketing of metal, mineral, and energy and agricultural commodities. The firm serves the automotive, steel, power generation, battery manufacturing, and oil sectors. It operates through the following segments: Marketing, Industrial, and Corporate and Other.
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