Emera Incorporated (OTCMKTS:EMRAF) Sees Significant Decline in Short Interest

Emera Incorporated (OTCMKTS:EMRAF) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 3,266,000 shares, a decline of 16.0% from the September 30th total of 3,886,300 shares. Based on an average daily trading volume, of 37,900 shares, the short-interest ratio is currently 86.2 days.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lowered their price target on Emera from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, July 1st.

Emera Price Performance

Shares of Emera stock traded down $0.71 during trading on Tuesday, reaching $37.54. 587 shares of the company’s stock were exchanged, compared to its average volume of 27,747. Emera has a 1-year low of $32.00 and a 1-year high of $40.00. The firm’s 50-day moving average price is $37.98 and its 200 day moving average price is $35.77.

About Emera

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.