Short Interest in Pitney Bowes Inc. (NYSE:PBI) Grows By 13.2%
Pitney Bowes Inc. (NYSE:PBI) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 34,890,000 shares, an increase of 13.2% from the December 15th total of 30,820,000 shares. Approximately 20.6% of the shares of the stock are short sold. Based on an average trading volume of 2,690,000 shares, the short-interest ratio is currently 13.0 days.
A number of research firms have commented on PBI. Zacks Investment Research lowered shares of Pitney Bowes from a “hold” rating to a “sell” rating and set a $5.25 price target on the stock. in a research report on Wednesday, November 20th. National Securities began coverage on shares of Pitney Bowes in a research report on Thursday, October 24th. They issued a “buy” rating on the sto ...