Shawcor Ltd. (OTCMKTS:SAWLF – Get Rating) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 298,300 shares, a growth of 32.8% from the April 15th total of 224,700 shares. Based on an average daily trading volume, of 18,100 shares, the days-to-cover ratio is presently 16.5 days.
Shares of SAWLF stock traded up $0.34 on Tuesday, reaching $4.68. 23,556 shares of the stock were exchanged, compared to its average volume of 11,499. Shawcor has a 1-year low of $3.34 and a 1-year high of $5.75. The firm has a 50 day moving average of $3.96 and a two-hundred day moving average of $4.10.
A number of research analysts have recently weighed in on SAWLF shares. Royal Bank of Canada increased their price objective on Shawcor from C$7.00 to C$8.00 in a report on Monday. TD Securities upgraded Shawcor from a “hold” rating to a “buy” rating in a research report on Monday. Finally, BMO Capital Markets upgraded Shawcor from a “market perform” rating to an “outperform” rating in a report on Monday.
Shawcor Ltd. operates as a material sciences company that serves the infrastructure, energy, and transportation markets worldwide. It operates through three segments: Composite Systems, Automotive and Industrial, and Pipeline and Pipe Services. The Composite Systems segment manufactures flexible composite and high density polyethylene pipes that are used for oil and gas gathering, water disposal, carbon dioxide injection pipelines, and other applications; fiberglass reinforced plastic underground storage tanks for the retail fuel, water and wastewater, and oil and gas markets; and tubular management services to the Western Canadian onshore oilfield market, including inventory management systems, mobile inspection, in-plant inspection and the refurbishment and rethreading of drill pipe, production tubing and casing, and tubular products.
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