Scienture Holdings, Inc. (NASDAQ:SCNX) Sees Significant Growth in Short Interest

Scienture Holdings, Inc. (NASDAQ:SCNX) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,993,473 shares, a growth of 114.8% from the February 26th total of 1,393,320 shares. Approximately 9.4% of the company’s stock are sold short. Based on an average daily trading volume, of 15,312,289 shares, the days-to-cover ratio is presently 0.2 days.

Scienture Trading Down 1.3%

Scienture stock opened at $0.45 on Friday. Scienture has a twelve month low of $0.37 and a twelve month high of $2.60. The stock has a 50 day moving average of $0.45 and a two-hundred day moving average of $0.62. The stock has a market capitalization of $18.39 million, a price-to-earnings ratio of -0.45 and a beta of 3.01.

Institutional Investors Weigh In On Scienture

A hedge fund recently bought a new stake in Scienture stock. Virtu Financial LLC acquired a new stake in Scienture Holdings, Inc. (NASDAQ:SCNX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 89,930 shares of the company’s stock, valued at approximately $46,000. Virtu Financial LLC owned about 0.22% of Scienture at the end of the most recent reporting period. Institutional investors and hedge funds own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SCNX shares. Maxim Group initiated coverage on shares of Scienture in a research report on Tuesday, February 24th. They issued a “buy” rating and a $1.50 target price on the stock. Wall Street Zen raised shares of Scienture to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Scienture in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1.50.

About Scienture

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.