Ambev S.A. (NYSE:ABEV) Short Interest Update

Ambev S.A. (NYSE:ABEV) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 72,090,000 shares, a growth of 9.9% from the October 31st total of 65,590,000 shares. Based on an average daily trading volume, of 24,730,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Ambev

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC bought a new position in Ambev during the 1st quarter worth approximately $156,000. Transcend Capital Advisors LLC acquired a new stake in shares of Ambev during the 2nd quarter worth about $46,000. Moody National Bank Trust Division acquired a new position in shares of Ambev during the second quarter valued at $62,000. Foundation Resource Management Inc. lifted its holdings in shares of Ambev by 141.5% during the 2nd quarter. Foundation Resource Management Inc. now owns 6,833,061 shares of the company’s stock valued at $14,008,000 after purchasing an additional 4,003,433 shares in the last quarter. Finally, CHICAGO TRUST Co NA acquired a new position in Ambev during the second quarter worth $129,000. Institutional investors and hedge funds own 8.13% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Ambev in a research note on Friday, October 18th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ambev has an average rating of “Moderate Buy” and an average price target of $2.70.

Ambev Stock Performance

ABEV traded up $0.12 on Tuesday, reaching $2.31. The stock had a trading volume of 34,871,248 shares, compared to its average volume of 22,135,550. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Ambev has a 12-month low of $2.01 and a 12-month high of $3.00. The business’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.23. The company has a market cap of $36.31 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 6.44 and a beta of 1.05.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, 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, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.