Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) Sees Significant Drop in Short Interest

Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 442,937 shares, a decrease of 35.4% from the September 15th total of 685,984 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 42,419 shares, the days-to-cover ratio is currently 10.4 days.

Analyst Upgrades and Downgrades

Separately, Barclays reissued an “overweight” rating and issued a $23.00 price objective on shares of Hon Hai Precision Industry Co., Ltd. Sponsored GDR in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, Hon Hai Precision Industry Co., Ltd. Sponsored GDR currently has a consensus rating of “Buy” and an average target price of $23.00.

Hon Hai Precision Industry Co., Ltd. Sponsored GDR Price Performance

Shares of OTCMKTS:HNHPF traded down $0.24 on Friday, reaching $14.93. The company’s stock had a trading volume of 141,270 shares, compared to its average volume of 43,308. Hon Hai Precision Industry Co., Ltd. Sponsored GDR has a 52-week low of $11.50 and a 52-week high of $20.26. The stock’s 50-day moving average is $15.87 and its two-hundred day moving average is $15.54.

About Hon Hai Precision Industry Co., Ltd. Sponsored GDR

Hon Hai Precision Industry Co, Ltd., commonly known as Foxconn, is a Taiwan-based electronics manufacturing services company. It provides product design, component manufacturing, assembly, testing, supply-chain management and after-sales services for technology companies and other industrial customers.

The company manufactures and supports a broad range of products, including smartphones, computers, servers, networking equipment, televisions, game consoles, electronic components and connectors.