Kingspan Group plc (OTCMKTS:KGSPY) Short Interest Up 14.1% in August

Kingspan Group plc (OTCMKTS:KGSPY) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 25,900 shares, a growth of 14.1% from the August 15th total of 22,700 shares. Based on an average trading volume of 35,900 shares, the short-interest ratio is currently 0.7 days.

Kingspan Group Trading Down 0.4 %

OTCMKTS:KGSPY traded down $0.30 during trading hours on Tuesday, reaching $76.91. The company had a trading volume of 3,444 shares, compared to its average volume of 4,176. Kingspan Group has a 1-year low of $42.30 and a 1-year high of $85.78. The business’s 50 day moving average price is $80.08 and its 200-day moving average price is $71.27.

Kingspan Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.1878 per share. This is an increase from Kingspan Group’s previous dividend of $0.17. The ex-dividend date of this dividend is Thursday, September 7th.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KGSPY. JPMorgan Chase & Co. lowered Kingspan Group from an “overweight” rating to a “neutral” rating in a research report on Wednesday, September 13th. HSBC lowered Kingspan Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Societe Generale lowered Kingspan Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.00.

Kingspan Group Company Profile

Kingspan Group plc, together with its subsidiaries, provides insulation and building envelope solutions in Western and Southern Europe, Central and Northern Europe, the Americas, and internationally. It operates through six segments: Insulated Panels, Insulation, Light + Air, Water + Energy, Data + Flooring, and Roofing + Waterproofing.