Is Buying Eros International Plc (NYSE:EROS), Having Higher Short Interest a Winning Strategy?

September 10, 2017 - By Darrin Black

 Is Buying Eros International Plc (NYSE:EROS), Having Higher Short Interest a Winning Strategy?

The stock of Eros International Plc (NYSE:EROS) registered an increase of 3.96% in short interest. EROS’s total short interest was 9.15 million shares in September as published by FINRA. Its up 3.96% from 8.81 million shares, reported previously. With 289,200 shares average volume, it will take short sellers 32 days to cover their EROS’s short positions.

The stock increased 1.29% or $0.15 on September 8, reaching $11.75. About 787,167 shares traded. Eros International plc (NYSE:EROS) has declined 18.90% since September 10, 2016 and is downtrending. It has underperformed by 35.60% the S&P500.

Eros International Plc is a holding company, which serves the Indian film entertainment industry. The company has market cap of $713.22 million. The Company’s principal activities include the acquisition, co-production and distribution of Indian films and related content. It has a 204.17 P/E ratio. It distributes its film content through the distribution channels, such as theatrical, including multiplex chains and standalone theaters; television syndication, including satellite television broadcasting, cable television and terrestrial television; digital and ancillary, including music, inflight entertainment, home video, Internet protocol television (IPTV), video on demand (VOD), and Internet channels and Eros Now.

Eros International plc (NYSE:EROS) Ratings Coverage

Among 4 analysts covering Eros International (NYSE:EROS), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Eros International had 7 analyst reports since August 12, 2015 according to SRatingsIntel. The rating was maintained by Jefferies with “Buy” on Friday, July 28. The rating was maintained by Macquarie Research on Thursday, February 18 with “Outperform”. The rating was upgraded by Wells Fargo to “Outperform” on Friday, December 9. Jefferies maintained the shares of EROS in report on Wednesday, November 18 with “Buy” rating. The stock of Eros International plc (NYSE:EROS) has “Buy” rating given on Monday, June 5 by Jefferies. The rating was maintained by Jefferies with “Buy” on Wednesday, August 12.

More important recent Eros International plc (NYSE:EROS) news were published by: Seekingalpha.com which released: “Eros International: New Receivables Accounting Red Flags” on August 24, 2017, also Seekingalpha.com published article titled: “Eros, Micromax offering content-filled tablet to India”, Seekingalpha.com published: “Eros International -8.6% as India unit results show decline” on August 11, 2017. More interesting news about Eros International plc (NYSE:EROS) was released by: Seekingalpha.com and their article: “Eros: Roll The Credits” with publication date: August 14, 2017.

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