What Next for Vedanta Limited American Depositary Shares (each (NYSE:VEDL) Stock After Increase in Shorted Shares?

March 14, 2018 - By Adrian Erickson

 What Next for Vedanta Limited American Depositary Shares (each (NYSE:VEDL) Stock After Increase in Shorted Shares?

The stock of Vedanta Limited American Depositary Shares (each (NYSE:VEDL) registered an increase of 9.3% in short interest. VEDL’s total short interest was 1.92M shares in March as published by FINRA. Its up 9.3% from 1.75M shares, reported previously. With 574,800 shares average volume, it will take short sellers 3 days to cover their VEDL’s short positions. The short interest to Vedanta Limited American Depositary Shares (each’s float is 0.47%.

The stock decreased 0.20% or $0.04 during the last trading session, reaching $19.62. About 293,113 shares traded. Vedanta Limited (NYSE:VEDL) has risen 163.91% since March 14, 2017 and is uptrending. It has outperformed by 147.21% the S&P500.

Vedanta Limited, a diversified natural resources company, engages in exploring, extracting, and processing minerals, and gas and oil in India. The company has market cap of $17.75 billion. It produces gas and oil, zinc, lead, silver, copper, iron ore, and aluminum. It has a 16.13 P/E ratio. The firm also operates 600 megawatts of thermal coal based power facility in the State of Odisha; and 274 megawatts of wind power plants.

Vedanta Limited (NYSE:VEDL) Ratings Coverage

Among 3 analysts covering Vedanta (NYSE:VEDL), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Vedanta had 3 analyst reports since June 9, 2016 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, April 26 by Goldman Sachs. As per Wednesday, October 5, the company rating was upgraded by Citigroup. CLSA upgraded Vedanta Limited (NYSE:VEDL) on Thursday, June 9 to “Buy” rating.

Another recent and important Vedanta Limited (NYSE:VEDL) news was published by Marketwatch.com which published an article titled: “Vedanta Ltd. ADR” on October 29, 2016.

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