China Resources Beer (Holdings) Company Limited (OTCMKTS: CRHKY) experienced a significant reduction in short interest in December, according to recent data. As of December 15, short interest in the company had fallen to just 100 shares, marking a dramatic 98.7% decrease from the 7,700 shares reported at the end of November. Given the average daily trading volume of 470,900 shares, the days-to-cover ratio is now effectively zero.
On Thursday, the company’s stock price remained stable, closing at $6.59, unchanged from the previous day. A total of 49,624 shares were traded, below the average daily trading volume of 94,908. Over the past year, China Resources Beer has seen its stock price fluctuate between a 52-week low of $5.45 and a high of $10.14.
The company’s financials reflect a current ratio of 0.75, a quick ratio of 0.40, and a minimal debt-to-equity ratio of 0.03. As of the latest data, its 50-day simple moving average stands at $7.11, with the 200-day moving average at $6.95.
About China Resources Beer
China Resources Beer (Holdings) Company Limited is an investment holding company involved in the production, distribution, and sale of beer in Mainland China. The company markets its products under several brands, including Nong Li, Snow, and Jinsha. Formerly known as China Resources Enterprise, Limited, it rebranded as China Resources Beer in October 2015.
While the company holds a “Hold” rating from analysts, some have pointed out that there may be more promising opportunities elsewhere. MarketBeat, which tracks Wall Street’s top-rated research analysts, has identified five stocks they believe could outperform China Resources Beer in the current market environment.
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