Emera Incorporated (OTCMKTS:EMRAF) Short Interest Up 25.6% in June

Emera Incorporated (OTCMKTS:EMRAFGet Rating) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,697,000 shares, an increase of 25.6% from the May 31st total of 1,351,300 shares. Based on an average daily trading volume, of 4,400 shares, the short-interest ratio is presently 385.7 days.

Emera stock traded down $0.30 during midday trading on Monday, reaching $46.55. 2,900 shares of the company’s stock were exchanged, compared to its average volume of 6,184. Emera has a 52 week low of $44.28 and a 52 week high of $52.56. The stock’s 50-day simple moving average is $48.25 and its 200 day simple moving average is $48.26.

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Emera from C$66.00 to C$72.00 in a research note on Tuesday, May 17th. BMO Capital Markets boosted their price objective on shares of Emera from C$65.00 to C$68.00 in a report on Friday, March 18th. Scotiabank boosted their price objective on shares of Emera from C$65.00 to C$69.00 in a report on Tuesday, April 19th. Finally, National Bank Financial upped their price target on shares of Emera from C$59.00 to C$60.00 in a report on Monday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.83.

About Emera (Get Rating)

Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.

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