Xiaomi Co. (OTCMKTS:XIACF) Sees Significant Decline in Short Interest

Xiaomi Co. (OTCMKTS:XIACF) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 48,316,527 shares, a decline of 20.2% from the November 30th total of 60,566,493 shares. Based on an average daily volume of 121,620 shares, the days-to-cover ratio is currently 397.3 days. Based on an average daily volume of 121,620 shares, the days-to-cover ratio is currently 397.3 days.

Xiaomi Stock Performance

OTCMKTS XIACF opened at $5.07 on Friday. The stock’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $6.42. Xiaomi has a one year low of $3.81 and a one year high of $9.00.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut Xiaomi from a “buy” rating to a “hold” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

About Xiaomi

Xiaomi Corporation, founded in April 2010 by entrepreneur Lei Jun and a group of partners, is a Chinese multinational electronics company headquartered in Beijing. The company began with the launch of its proprietary MIUI operating system and quickly expanded into hardware design and manufacturing. Over the past decade, Xiaomi has established itself as one of the world’s leading smartphone vendors, focusing on delivering high-performance devices at competitive price points.

In addition to its core smartphone business, Xiaomi operates two main hardware sub-brands: Mi and Redmi.