Magazine Luiza S.A. (OTCMKTS:MGLUY) Stock Short Interest Drops 33.7%

by · The Markets Daily

Magazine Luiza S.A. (OTCMKTS:MGLUY – Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 7,032 shares, a drop of 33.7% from the September 30th total of 10,611 shares. Based on an average daily volume of 6,175 shares, the short-interest ratio is currently 1.1 days.

Magazine Luiza Stock Performance

Shares of Magazine Luiza stock opened at $4.04 on Wednesday. The firm’s 50-day moving average is $5.85 and its 200 day moving average is $5.70. Magazine Luiza has a 1 year low of $2.88 and a 1 year high of $10.75.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised Magazine Luiza from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 20th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Check Out Our Latest Stock Analysis on Magazine Luiza

About Magazine Luiza

(Get Free Report)

Magazine Luiza SA, commonly known as Magalu, is a Brazilian retail and technology company that operates through an omnichannel platform combining physical stores, e-commerce, mobile applications and digital marketplaces. The company serves consumers primarily in Brazil and sells a broad range of products, including consumer electronics, appliances, furniture, mobile phones, computers, home goods, beauty products and other general merchandise.

In addition to selling products directly, Magalu operates a marketplace that enables third-party retailers and brands to reach customers through its digital channels.

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