Ambev S.A. (NYSE:ABEV) Short Interest Up 169.2% in June

Ambev S.A. (NYSE:ABEV) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 27,890,000 shares, a growth of 169.2% from the May 31st total of 10,360,000 shares. Based on an average trading volume of 15,920,000 shares, the days-to-cover ratio is presently 1.8 days.

Ambev Price Performance

Shares of NYSE ABEV traded down $0.04 during mid-day trading on Friday, reaching $2.05. 35,923,647 shares of the company were exchanged, compared to its average volume of 14,188,226. Ambev has a 52 week low of $2.01 and a 52 week high of $3.22. The company’s 50 day moving average price is $2.25 and its 200 day moving average price is $2.48. The stock has a market capitalization of $32.30 billion, a PE ratio of 10.79, a PEG ratio of 3.10 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 0.99 and a debt-to-equity ratio of 0.02.

Ambev (NYSE:ABEV) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4 billion. Ambev had a net margin of 18.25% and a return on equity of 17.53%. Sell-side analysts forecast that Ambev will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABEV has been the topic of several research reports. Barclays dropped their price objective on shares of Ambev from $3.00 to $2.50 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Ambev in a research report on Friday, March 1st. Finally, StockNews.com downgraded Ambev from a “strong-buy” rating to a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.68.

Hedge Funds Weigh In On Ambev

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC bought a new position in Ambev during the 1st quarter valued at approximately $156,000. Dynasty Wealth Management LLC bought a new position in shares of Ambev during the first quarter valued at approximately $274,000. Earnest Partners LLC lifted its stake in Ambev by 4.8% in the first quarter. Earnest Partners LLC now owns 918,448 shares of the company’s stock worth $2,278,000 after acquiring an additional 41,802 shares during the period. Kiltearn Partners LLP boosted its holdings in Ambev by 73.3% in the first quarter. Kiltearn Partners LLP now owns 10,168,100 shares of the company’s stock valued at $24,607,000 after acquiring an additional 4,300,000 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new position in Ambev during the 1st quarter valued at $48,000. 8.13% of the stock is currently owned by institutional investors.

Ambev Company Profile

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe and Hoegaarden, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith's, and Kokanee brands.