Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) Sees Significant Decrease in Short Interest

Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 19,564 shares, a drop of 41.1% from the May 31st total of 33,199 shares. Based on an average daily trading volume, of 99,334 shares, the days-to-cover ratio is presently 0.2 days. Currently, 15.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Trident Digital Tech

Several hedge funds have recently bought and sold shares of TDTH. XTX Topco Ltd boosted its holdings in shares of Trident Digital Tech by 397.6% during the fourth quarter. XTX Topco Ltd now owns 96,217 shares of the company’s stock worth $29,000 after purchasing an additional 76,879 shares during the period. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Trident Digital Tech in the fourth quarter valued at about $59,000. Finally, Renaissance Technologies LLC grew its stake in shares of Trident Digital Tech by 547.5% in the first quarter. Renaissance Technologies LLC now owns 424,000 shares of the company’s stock worth $81,000 after acquiring an additional 358,513 shares during the last quarter.

Trident Digital Tech Price Performance

Trident Digital Tech stock traded up $0.16 during midday trading on Wednesday, hitting $1.62. The company’s stock had a trading volume of 19,842 shares, compared to its average volume of 87,080. Trident Digital Tech has a 12 month low of $1.27 and a 12 month high of $80.40. The stock’s 50-day moving average price is $2.08 and its 200-day moving average price is $6.23.

Trident Digital Tech (NASDAQ:TDTH) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($3.52) EPS for the quarter. The firm had revenue of $0.06 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Trident Digital Tech from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About Trident Digital Tech

Trident Digital Tech Holdings Ltd. engages in the provision of business consulting services and information technology customization solutions. Its products include Tridentity, TriVerse, TriEvents, and TriFood. The company was founded by Soon Huat Lim in 2014 and is headquartered in Singapore.