Jianpu Technology Inc – (NYSE:JT) Sees Large Growth in Short Interest

Jianpu Technology Inc – (NYSE:JT) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,132,200 shares, an increase of 54.3% from the May 30th total of 733,600 shares. Based on an average daily trading volume, of 350,600 shares, the short-interest ratio is currently 3.2 days. Approximately 0.9% of the company’s shares are sold short.

Shares of JT traded up $0.04 during trading hours on Thursday, hitting $3.95. The company had a trading volume of 390,100 shares, compared to its average volume of 394,553. The firm has a market cap of $658.63 million, a price-to-earnings ratio of -28.21 and a beta of 1.42. The company’s 50 day moving average is $4.13. Jianpu Technology has a 52-week low of $3.49 and a 52-week high of $7.97.

Jianpu Technology (NYSE:JT) last posted its earnings results on Tuesday, May 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. The company had revenue of $97.58 million for the quarter, compared to analysts’ expectations of $90.04 million. Jianpu Technology had a negative return on equity of 5.41% and a negative net margin of 3.95%. As a group, equities analysts expect that Jianpu Technology will post 0.09 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. bought a new position in Jianpu Technology in the first quarter valued at approximately $40,000. Wells Fargo & Company MN grew its stake in Jianpu Technology by 1.7% in the first quarter. Wells Fargo & Company MN now owns 7,451,711 shares of the company’s stock valued at $37,334,000 after purchasing an additional 128,100 shares in the last quarter. Baillie Gifford & Co. grew its stake in Jianpu Technology by 4.1% in the first quarter. Baillie Gifford & Co. now owns 3,871,919 shares of the company’s stock valued at $19,398,000 after purchasing an additional 152,199 shares in the last quarter. Hamilton Lane Advisors LLC bought a new position in Jianpu Technology in the first quarter valued at approximately $529,000. Finally, Yiheng Capital LLC grew its stake in Jianpu Technology by 31.7% in the fourth quarter. Yiheng Capital LLC now owns 6,058,598 shares of the company’s stock valued at $25,264,000 after purchasing an additional 1,459,629 shares in the last quarter. 16.65% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Zurich Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, May 18th. Goldman Sachs Group assumed coverage on Tricida in a report on Wednesday, June 26th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Jianpu Technology Company Profile

Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.

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