Amerisourcebergen Corporation (NYSE:ABC) Shorted Shares Increased 7.5% After Market Selling


The stock of Amerisourcebergen Corporation (NYSE:ABC) registered an increase of 7.5% in short interest. ABC’s total short interest was 9.36M shares in September as published by FINRA. Its up 7.5% from 8.71M shares, reported previously. With 1.71 million shares average volume, it will take short sellers 6 days to cover their ABC’s short positions. The short interest to Amerisourcebergen Corporation’s float is 5.75%. About 492,772 shares traded hands. AmerisourceBergen Corp. (NYSE:ABC) has risen 3.98% since February 8, 2016 and is uptrending. It has underperformed by 12.51% the S&P500.

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The company has a market cap of $20.67 billion. The Firm operates through two divisions: Pharmaceutical Distribution and Other. It has a 11.5 P/E ratio. The Firm also provides data and other services to its manufacturing customers.

Out of 13 analysts covering AmerisourceBergen Corp. (NYSE:ABC), 5 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 38% are positive. $130 is the highest target while $84 is the lowest. The $99.77 average target is 17.03% above today’s ($85.25) stock price. AmerisourceBergen Corp. has been the topic of 22 analyst reports since September 17, 2015 according to StockzIntelligence Inc. Mizuho maintained the stock on August 11 with “Neutral” rating. FBR Capital maintained the shares of ABC in a report on May 6 with “Mkt Perform” rating.

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