Richelieu Hardware Ltd. (OTCMKTS:RHUHF) Sees Large Growth in Short Interest

Richelieu Hardware Ltd. (OTCMKTS:RHUHFGet Rating) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 380,900 shares, an increase of 70.8% from the May 31st total of 223,000 shares. Based on an average daily volume of 200 shares, the short-interest ratio is currently 1,904.5 days.

Several equities analysts have commented on RHUHF shares. TD Securities decreased their price objective on shares of Richelieu Hardware from C$48.00 to C$44.00 in a report on Thursday. CIBC upgraded shares of Richelieu Hardware from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a report on Thursday, May 26th. Finally, National Bank Financial upped their price objective on shares of Richelieu Hardware from C$53.50 to C$54.50 in a report on Friday, April 8th.

Shares of Richelieu Hardware stock traded down $2.05 during trading on Friday, reaching $26.36. The company’s stock had a trading volume of 200 shares, compared to its average volume of 494. The business’s 50-day moving average price is $28.28 and its 200-day moving average price is $33.18. Richelieu Hardware has a 52 week low of $25.95 and a 52 week high of $40.24.

About Richelieu Hardware (Get Rating)

Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North America. The company's principal product categories include furniture, glass and building decorative and functional hardware, lighting systems, finishing and decorating products, ergonomic workstation components, kitchen and closet storage solutions, sliding door systems, decorative and functional panels, high-pressure laminates, and floor protection products.

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