ConvaTec Group PLC (OTCMKTS:CNVVY) Sees Large Growth in Short Interest

ConvaTec Group PLC (OTCMKTS:CNVVY) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 310,700 shares, an increase of 22,092.9% from the April 30th total of 1,400 shares. Based on an average daily trading volume, of 145,900 shares, the short-interest ratio is presently 2.1 days.

ConvaTec Group Stock Performance

OTCMKTS CNVVY traded up $0.55 during midday trading on Wednesday, hitting $15.80. The company had a trading volume of 9,395 shares, compared to its average volume of 33,008. The firm has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $12.81. ConvaTec Group has a fifty-two week low of $10.77 and a fifty-two week high of $15.95.

Wall Street Analyst Weigh In

Separately, Peel Hunt raised shares of ConvaTec Group from a “hold” rating to a “moderate buy” rating in a report on Monday, April 14th.

About ConvaTec Group

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.