Abb Limited Zuerich (NYSE:ABB) Sellers Covered 8.24% of Their Shorts


The stock of Abb Limited Zuerich (NYSE:ABB) registered a decrease of 8.24% in short interest. ABB’s total short interest was 4.24M shares in September as published by FINRA. Its down 8.24% from 4.62 million shares, reported previously. With 1.03 million shares average volume, it will take short sellers 4 days to cover their ABB’s short positions. The short interest to Abb Limited Zuerich’s float is 0.24%. About 1.06M shares traded hands. ABB Ltd (ADR) (NYSE:ABB) has risen 30.55% since February 8, 2016 and is uptrending. It has outperformed by 14.07% the S&P500.

ABB Ltd is engaged in power and automation technologies. The company has a market cap of $49.65 billion. The Firm manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. It has a 29.11 P/E ratio. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.

Out of 9 analysts covering ABB Ltd (NYSE:ABB), 2 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 22% are positive. $24 is the highest target while $21 is the lowest. The $22.50 average target is 0.36% above today’s ($22.42) stock price. ABB Ltd has been the topic of 12 analyst reports since September 22, 2015 according to StockzIntelligence Inc. BNP Paribas upgraded the stock on September 1 to “Outperform” rating. Societe Generale upgraded the shares of ABB in a report on April 21 to “Hold” rating.

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