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

XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 37,380 shares, a decline of 96.1% from the August 15th total of 951,444 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 128,778 shares, the days-to-cover ratio is presently 0.3 days.

XChange TEC.INC. Stock Down 3.8%

XChange TEC.INC. stock opened at $3.02 on Friday. The company has a 50 day moving average price of $2.16 and a 200-day moving average price of $1.37. XChange TEC.INC. has a fifty-two week low of $0.65 and a fifty-two week high of $7.23.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XChange TEC.INC. in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, XChange TEC.INC. has an average rating of “Sell”.

About XChange TEC.INC.

XChange TEC.INC engages in the professional insurance agency business in the People’s Republic of China. The company provides a various insurance products underwritten by insurance companies, including state-owned property and casualty insurance companies, as well as various regional property and casualty insurance companies. It also offers automobile, life, health, group accident, and other property related insurances primarily to individual end consumers. In addition, the company operates a SaaS platform to offer comprehensive services to online customers.