ConvaTec Group PLC (OTCMKTS:CNVVY) Short Interest Down 39.5% in August

ConvaTec Group PLC (OTCMKTS:CNVVY) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 27,900 shares, a drop of 39.5% from the July 31st total of 46,100 shares. Based on an average daily trading volume, of 16,800 shares, the days-to-cover ratio is currently 1.7 days.

ConvaTec Group Price Performance

ConvaTec Group stock traded down $0.19 during mid-day trading on Friday, reaching $12.50. 226,738 shares of the company’s stock traded hands, compared to its average volume of 29,182. ConvaTec Group has a 12-month low of $9.90 and a 12-month high of $15.40. The stock has a 50 day moving average of $12.46 and a two-hundred day moving average of $13.05.

ConvaTec Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, August 23rd will be given a dividend of $0.0584 per share. The ex-dividend date of this dividend is Friday, August 23rd.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group raised shares of ConvaTec Group to a “strong-buy” rating in a report on Wednesday, June 26th. Berenberg Bank upgraded shares of ConvaTec Group to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Barclays upgraded ConvaTec Group to a “strong-buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.

ConvaTec Group Company Profile

ConvaTec Group PLC engages in the development, manufacturing, and sale of medical products, services, and technologies in Europe, North America, and internationally. The company offers advanced wound dressings and skin care products for the management of acute and chronic wounds resulting from various conditions, such as diabetes, and acute conditions resulting from traumatic injury and burns.