Short Interest in Toromont Industries Ltd. (OTCMKTS:TMTNF) Declines By 23.7%

Toromont Industries Ltd. (OTCMKTS:TMTNF) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 200,300 shares, a drop of 23.7% from the October 15th total of 262,500 shares. Based on an average daily volume of 6,300 shares, the days-to-cover ratio is presently 31.8 days.

Analysts Set New Price Targets

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

Toromont Industries Price Performance

OTCMKTS:TMTNF opened at $83.72 on Friday. Toromont Industries has a 1 year low of $79.11 and a 1 year high of $98.22. The stock has a 50-day simple moving average of $91.81 and a 200-day simple moving average of $90.25.

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.