Simpple Ltd. (NASDAQ:SPPL) Sees Large Decline in Short Interest

Simpple Ltd. (NASDAQ:SPPL) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 161,328 shares, a decrease of 49.5% from the May 31st total of 319,764 shares. Based on an average daily volume of 2,391,247 shares, the short-interest ratio is currently 0.1 days. Approximately 2.8% of the shares of the company are sold short.

Institutional Trading of Simpple

A hedge fund recently bought a new stake in Simpple stock. Connective Capital Management LLC purchased a new stake in Simpple Ltd. (NASDAQ:SPPL) during the third quarter, according to its most recent filing with the SEC. The fund purchased 7,862 shares of the company’s stock, valued at approximately $46,000. Connective Capital Management LLC owned about 0.16% of Simpple as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.01% of the company’s stock.

Simpple Trading Down 4.1%

Shares of SPPL stock traded down $0.16 on Wednesday, hitting $3.73. 69,242 shares of the stock traded hands, compared to its average volume of 775,602. Simpple has a 52 week low of $1.50 and a 52 week high of $7.00. The firm has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $3.04. The company has a quick ratio of 0.80, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

Simpple (NASDAQ:SPPL) last issued its earnings results on Wednesday, April 8th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $0.92 million for the quarter.

Analysts Set New Price Targets

A number of brokerages have commented on SPPL. Wall Street Zen raised shares of Simpple to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Simpple in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Simpple Company Profile

Simpple Ltd. provides advanced technology solutions in Singapore. The company engages in the sale, warranty, and maintenance of autonomous robotic cleaning equipment. It also offers SIMPPLE Ecosystem platform includes SIMPPLE Software, a software platform comprising modules related to quality management, workflow management, and people management; SIMPPLE PLUS, which offers complimentary peripherals, such as IoT sensors and robotic solutions that add value to the entire ecosystem that the company distributes, sells, and manages; and SIMPPLE.AI, a next generation facilities management autonomic intelligence engine that automates robotic and human workforce deployments.