Ambev SA (NYSE:ABEV)’s Trend Up, Especially After Decreased Shorts

June 20, 2017 - By Linda Rogers

 Ambev SA (NYSE:ABEV)’s Trend Up, Especially After Decreased Shorts

The stock of Ambev SA (NYSE:ABEV) registered a decrease of 4.78% in short interest. ABEV’s total short interest was 28.70 million shares in June as published by FINRA. Its down 4.78% from 30.14 million shares, reported previously. With 35.23 million shares average volume, it will take short sellers 1 days to cover their ABEV’s short positions. The short interest to Ambev SA’s float is 0.48%.

The stock increased 1.12% or $0.06 during the last trading session, reaching $5.4. About shares traded. Ambev SA (ADR) (NYSE:ABEV) has risen 10.52% since June 20, 2016 and is uptrending. It has underperformed by 6.18% the S&P500.

Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil firm engaged in the brewing sector. The company has market cap of $83.93 billion. The Firm produces and sells beer, carbonated soft drinks and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. It has a 6.75 P/E ratio. The Company’s activities are divided into three divisions: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as activities in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.

Ambev SA (ADR) (NYSE:ABEV) Ratings Coverage

Among 4 analysts covering AmBev SA (NYSE:ABEV), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. AmBev SA has $6.80 highest and $4.90 lowest target. $6.03’s average target is 11.67% above currents $5.4 stock price. AmBev SA had 5 analyst reports since September 17, 2015 according to SRatingsIntel. On Monday, October 10 the stock rating was maintained by Goldman Sachs with “Buy”. On Thursday, August 18 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”. The stock of Ambev SA (ADR) (NYSE:ABEV) earned “Overweight” rating by JP Morgan on Thursday, November 10. The firm has “Equal Weight” rating by Barclays Capital given on Thursday, November 3.

More news for Ambev SA (ADR) (NYSE:ABEV) were recently published by: Seekingalpha.com, which released: “Asymmetric Allocation: Top 5 Reasons Why A Market Neutral Trade With Ambev SA …” on January 05, 2017. Gurufocus.com‘s article titled: “Seeking Value in Brazil: Ambev” and published on May 28, 2017 is yet another important article.

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