Short Interest in Pintec Technology Holdings Ltd. (NASDAQ:PT) Drops By 30.8%

Pintec Technology Holdings Ltd. (NASDAQ:PT) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 31,614 shares, a drop of 30.8% from the December 15th total of 45,654 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 79,730 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 79,730 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Pintec Technology

An institutional investor recently bought a new position in Pintec Technology stock. Virtu Financial LLC acquired a new position in Pintec Technology Holdings Ltd. (NASDAQ:PT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 49,986 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned 0.32% of Pintec Technology as of its most recent SEC filing. Institutional investors and hedge funds own 6.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pintec Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pintec Technology has a consensus rating of “Sell”.

Pintec Technology Price Performance

Shares of Pintec Technology stock opened at $1.23 on Friday. The firm has a 50 day simple moving average of $0.99 and a 200 day simple moving average of $0.97. Pintec Technology has a fifty-two week low of $0.76 and a fifty-two week high of $1.38.

About Pintec Technology

Pintec Technology Holdings Limited, founded in 2008 and headquartered in Beijing, is a leading fintech company that provides technology-enabled financial solutions to banks, consumer finance companies and other financial institutions in China. Its core business revolves around an origination-as-a-service platform that enables partners to quickly launch and manage digital lending and wealth management products. This platform covers the entire credit lifecycle, including customer acquisition, credit decisioning, risk management and post-loan servicing.

In addition to its fintech platform business, Pintec operates a content-based marketing platform that harnesses big data analytics and AI-driven algorithms to match financial service providers with potential customers through online media, social networks and other digital channels.