Dollarama Inc. (OTCMKTS:DLMAF) Sees Significant Drop in Short Interest

Dollarama Inc. (OTCMKTS:DLMAF) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 1,079,700 shares, a drop of 5.4% from the August 31st total of 1,140,900 shares. Based on an average trading volume of 33,800 shares, the days-to-cover ratio is presently 31.9 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DLMAF. Stifel Nicolaus raised their price objective on Dollarama from $110.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, June 13th. BMO Capital Markets increased their target price on shares of Dollarama from $124.00 to $133.00 and gave the company an “outperform” rating in a research report on Monday, June 3rd.

Dollarama Price Performance

Dollarama stock traded up $1.01 during midday trading on Monday, hitting $102.52. 245 shares of the stock were exchanged, compared to its average volume of 27,019. Dollarama has a fifty-two week low of $67.34 and a fifty-two week high of $102.52. The stock’s 50-day simple moving average is $97.15 and its 200 day simple moving average is $90.40.

Dollarama Company Profile

Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal products. It also sells its products through online store. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.