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

Dollarama Inc. (OTCMKTS:DLMAFGet Rating) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 677,700 shares, a decrease of 30.1% from the March 15th total of 969,000 shares. Based on an average daily trading volume, of 1,200 shares, the days-to-cover ratio is presently 564.8 days.

Several brokerages have issued reports on DLMAF. TD Securities upped their price objective on Dollarama from C$72.00 to C$80.00 in a research note on Thursday, March 31st. National Bank Financial upped their target price on Dollarama from C$69.00 to C$75.00 in a report on Thursday, March 31st. Canaccord Genuity Group upped their target price on Dollarama from C$65.00 to C$70.00 in a report on Thursday, March 31st. Desjardins upped their target price on Dollarama from €72.00 ($78.26) to €79.00 ($85.87) in a report on Friday, April 1st. Finally, Scotiabank upped their target price on Dollarama from C$66.00 to C$72.00 in a report on Wednesday, March 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dollarama has a consensus rating of “Buy” and a consensus target price of $72.11.

DLMAF stock traded up $0.32 on Monday, reaching $58.55. The company’s stock had a trading volume of 1,000 shares, compared to its average volume of 2,873. Dollarama has a 52 week low of $42.36 and a 52 week high of $60.47. The firm has a fifty day moving average of $54.07 and a two-hundred day moving average of $49.57.

Dollarama Company Profile (Get Rating)

Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal products. The company also offers products online. As of January 30, 2022, it operated 1,420 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.

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