Toromont Industries Ltd. (OTCMKTS:TMTNF) Sees Large Growth in Short Interest

Toromont Industries Ltd. (OTCMKTS:TMTNF) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 227,800 shares, an increase of 52.9% from the December 15th total of 149,000 shares. Based on an average trading volume of 26,200 shares, the days-to-cover ratio is presently 8.7 days.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reaffirmed an “outperform” rating on shares of Toromont Industries in a research report on Friday, October 18th.

Toromont Industries Price Performance

OTCMKTS:TMTNF traded up $1.60 during mid-day trading on Wednesday, reaching $80.04. 50,065 shares of the company’s stock were exchanged, compared to its average volume of 25,432. Toromont Industries has a one year low of $78.35 and a one year high of $98.22. The business’s fifty day simple moving average is $81.03 and its two-hundred day simple moving average is $87.86.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.