Orangekloud Technology Inc. (NASDAQ:ORKT) Sees Large Decline in Short Interest

Orangekloud Technology Inc. (NASDAQ:ORKT) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 62,057 shares, a decrease of 27.0% from the December 15th total of 85,014 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 50,415 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 50,415 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.1% of the shares of the company are sold short.

Orangekloud Technology Stock Down 8.6%

Shares of ORKT stock traded down $0.07 during trading hours on Monday, reaching $0.72. The stock had a trading volume of 17,160 shares, compared to its average volume of 33,409. The firm has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $1.91. Orangekloud Technology has a twelve month low of $0.62 and a twelve month high of $15.40.

Institutional Investors Weigh In On Orangekloud Technology

An institutional investor recently bought a new position in Orangekloud Technology stock. Citadel Advisors LLC bought a new position in Orangekloud Technology Inc. (NASDAQ:ORKT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,601 shares of the company’s stock, valued at approximately $34,000. Citadel Advisors LLC owned 0.28% of Orangekloud Technology at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Orangekloud Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Orangekloud Technology Company Profile

Orangekloud Technology, Inc is a holding company, which engages in providing information technology consulting services. Its digital transformation projects include the sales and consulting of Microsoft Dynamics ERP software licenses. It operates through the Packaged Software Solutions, and No-Code Platform and Mobile Application segments. The Packaged Software Solutions segment refers to packaged software and custom software solutions. The No-Code Platform and Mobile Application focuses on providing a rapid development environment through a No-Code platform.