Rexel S.A. (OTCMKTS:RXEEY) Sees Significant Drop in Short Interest

Rexel S.A. (OTCMKTS:RXEEY) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 3,353 shares, a decline of 71.7% from the August 31st total of 11,835 shares. Based on an average daily volume of 26,348 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of brokerages have recently commented on RXEEY. Morgan Stanley reiterated an “overweight” rating on shares of Rexel in a research report on Monday, June 29th. Zacks Research upgraded shares of Rexel to a “hold” rating in a research report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rexel Stock Performance

Shares of Rexel stock traded up $0.83 during trading hours on Friday, hitting $42.49. The company’s stock had a trading volume of 35,925 shares, compared to its average volume of 15,022. Rexel has a twelve month low of $32.07 and a twelve month high of $47.13. The firm has a fifty day moving average of $42.31 and a 200-day moving average of $42.15.

About Rexel

Rexel is a France-based distributor of electrical products and services for professional customers. The company supplies equipment used in residential, commercial and industrial construction, renovation, maintenance and infrastructure projects. Its offerings include electrical installation products, cables, lighting, safety equipment, automation and control systems, tools, and energy-management solutions.

Rexel also supports the transition toward electrification through products and services related to energy efficiency, renewable energy, electric-vehicle charging, building management and distributed power systems.