Mayne Pharma Group Limited (OTCMKTS:MAYNF) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,535,100 shares, a growth of 328.6% from the August 15th total of 358,200 shares. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is presently 46.8 days.
Shares of OTCMKTS MAYNF opened at $0.22 on Wednesday. Mayne Pharma Group has a 12 month low of $0.19 and a 12 month high of $0.42. The stock has a 50 day moving average of $0.23 and a 200-day moving average of $0.27.
Separately, Citigroup upgraded Mayne Pharma Group from a “neutral” rating to a “buy” rating and set a $0.35 target price for the company in a research note on Monday, August 30th.
Mayne Pharma Group Ltd. engages in the development and manufacture of proprietary and generic products. It operates through the following segments: Generic Products, Specialty Brands, Metrics Contract Services, and Mayne Pharma International. The Generic Products segment involves in the manufacture and distribution of generic and branded pharmaceutical products.
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