XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) Sees Significant Growth in Short Interest

XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) was the recipient of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 370,621 shares, an increase of 237.8% from the October 15th total of 109,722 shares. Based on an average daily trading volume, of 1,123,824 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.7% of the shares of the company are short sold.

XChange TEC.INC. Stock Performance

NASDAQ:XHG opened at $3.30 on Thursday. The firm’s fifty day moving average price is $2.82 and its 200 day moving average price is $1.63. XChange TEC.INC. has a 1-year low of $0.65 and a 1-year high of $7.23.

Analyst Ratings Changes

Separately, Weiss Ratings cut XChange TEC.INC. from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, XChange TEC.INC. presently has a consensus rating of “Sell”.

About XChange TEC.INC.

XChange TEC.INC (NASDAQ:XHG) is a financial technology company focused on providing financial services in China. Through its technology-enabled platform, the company facilitates access to financial products and services for consumers and business customers. The company’s activities include loan facilitation and related financial services, as well as insurance brokerage. Its insurance business is intended to connect customers with insurance products offered by third-party insurers, while its financing activities help connect borrowers with lending partners.