FirstRand Limited (OTCMKTS:FANDF) Sees Large Growth in Short Interest
by Amy Steele · The Cerbat GemFirstRand Limited (OTCMKTS:FANDF – Get Free Report) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 65,191 shares, a growth of 214.4% from the December 15th total of 20,738 shares. Based on an average daily trading volume, of 4,917 shares, the days-to-cover ratio is presently 13.3 days. Based on an average daily trading volume, of 4,917 shares, the days-to-cover ratio is presently 13.3 days.
FirstRand Stock Up 2.9%
Shares of OTCMKTS:FANDF traded up $0.16 during mid-day trading on Wednesday, hitting $5.45. 317 shares of the company traded hands, compared to its average volume of 208. The stock has a 50-day moving average price of $5.01 and a two-hundred day moving average price of $4.60. FirstRand has a 12-month low of $3.38 and a 12-month high of $5.47.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on FANDF shares. The Goldman Sachs Group assumed coverage on FirstRand in a report on Thursday, November 13th. They issued a “buy” rating on the stock. Investec raised FirstRand from a “hold” rating to a “buy” rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.
Get Our Latest Stock Analysis on FANDF
About FirstRand
FirstRand Limited is a South African financial services group headquartered in Johannesburg. Established in 1998 through the consolidation of First National Bank of South Africa and Rand Merchant Bank, the company has grown into one of the continent’s leading providers of banking and financial products. FirstRand operates a diversified financial-services platform that spans retail, commercial and corporate banking.
The group’s main operating divisions include First National Bank (FNB), which offers personal and small-business banking; Rand Merchant Bank (RMB), specializing in corporate and investment banking; WesBank, a provider of vehicle and asset finance; and Ashburton Investments, which delivers asset management and tailored investment solutions.