Kuaishou Technology (OTCMKTS:KUASF) Sees Large Drop in Short Interest

Kuaishou Technology (OTCMKTS:KUASF) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 13,372,124 shares, a decline of 45.2% from the September 30th total of 24,418,954 shares. Based on an average trading volume of 2,636 shares, the days-to-cover ratio is presently 5,072.9 days.

Kuaishou Technology Price Performance

Shares of KUASF remained flat at $3.19 during mid-day trading on Friday. 29,200 shares of the company’s stock were exchanged, compared to its average volume of 2,362. Kuaishou Technology has a fifty-two week low of $3.19 and a fifty-two week high of $11.00. The business’s 50 day moving average price is $4.15 and its two-hundred day moving average price is $6.22.

Analysts Set New Price Targets

Several research firms recently weighed in on KUASF. The Goldman Sachs Group lowered Kuaishou Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, August 20th. Citigroup downgraded shares of Kuaishou Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Kuaishou Technology presently has an average rating of “Hold” and a consensus price target of $5.00.

Kuaishou Technology Company Profile

Kuaishou Technology is a Chinese internet company that operates short-video and livestreaming platforms. Its flagship Kuaishou app enables users to create, share and discover videos, participate in livestreams, interact with creators and communities, and communicate through social features. The company also operates the Kwai brand in selected international markets.

Kuaishou generates revenue primarily through online marketing services, livestreaming, and e-commerce. Its platforms allow businesses to promote products and services, while creators and merchants can sell goods through livestreams, short videos and other digital-commerce tools.