Short Interest in Reliance Worldwide Co. Limited (OTCMKTS:RLLWF) Expands By 101.1%

Reliance Worldwide Co. Limited (OTCMKTS:RLLWFGet Rating) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 815,200 shares, an increase of 101.1% from the April 30th total of 405,300 shares. Based on an average trading volume of 3,600 shares, the days-to-cover ratio is presently 226.4 days.

Shares of OTCMKTS:RLLWF remained flat at $$2.98 during midday trading on Friday. Reliance Worldwide has a fifty-two week low of $2.72 and a fifty-two week high of $4.82. The company’s 50 day moving average price is $3.04 and its 200-day moving average price is $3.72.

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised Reliance Worldwide from a “neutral” rating to an “overweight” rating in a research report on Thursday, March 17th. The Goldman Sachs Group assumed coverage on Reliance Worldwide in a research report on Thursday. They issued a “buy” rating and a $4.80 target price for the company.

Reliance Worldwide Company Profile (Get Rating)

Reliance Worldwide Corporation Limited, together with its subsidiaries, engages in the design, manufacture, and supply of water flow, control, and monitoring products and solutions for plumbing and heating industries. It offers push-to-connect plumbing fittings for the installation and repair of water reticulation systems; crimp fittings, expansion fittings, and accessories; coiled and straight length tubing; polybutylene pipe for domestic water and central heating systems; LLDPE tubing for fluid control applications; and rigid nylon and aluminum piping for air and pneumatic systems.

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