SCHMID Group N.V. (NASDAQ:SHMD) Sees Large Increase in Short Interest

SCHMID Group N.V. (NASDAQ:SHMD) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 117,500 shares, an increase of 58.8% from the September 15th total of 74,000 shares. Based on an average daily volume of 34,300 shares, the days-to-cover ratio is currently 3.4 days. Currently, 0.8% of the shares of the stock are sold short. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 34,300 shares, the days-to-cover ratio is currently 3.4 days.

Institutional Trading of SCHMID Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in SCHMID Group in the 1st quarter valued at about $42,000. Magnetar Financial LLC acquired a new position in SCHMID Group in the 2nd quarter valued at about $135,000. Envestnet Asset Management Inc. grew its position in SCHMID Group by 38.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,573 shares of the company’s stock valued at $461,000 after acquiring an additional 46,573 shares in the last quarter. Sculptor Capital LP acquired a new position in SCHMID Group in the 2nd quarter valued at about $587,000. Finally, Tabor Asset Management LP acquired a new position in SCHMID Group in the 1st quarter valued at about $766,000. 46.03% of the stock is currently owned by hedge funds and other institutional investors.

SCHMID Group Stock Performance

Shares of SHMD opened at $4.03 on Wednesday. SCHMID Group has a 12-month low of $1.86 and a 12-month high of $4.50. The company’s 50-day moving average price is $2.74 and its 200 day moving average price is $2.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SCHMID Group in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

About SCHMID Group

SCHMID Group N.V. develops and manufactures equipment and process solutions for electronics, photovoltaics, glass, and energy systems in Germany and internationally. The company offers electronics equipment, ET board, vertical and horizontal wet process, vacuum metallization and tech, plating, chemical mechanical polishing, and automation system solutions; and systems and process solutions for manufacturing and processing photovoltaic products, such as wafers, cells, modules, and thin films, as well as turnkey production lines.