Orangekloud Technology Inc. (NASDAQ:ORKT) Sees Significant Drop in Short Interest

Orangekloud Technology Inc. (NASDAQ:ORKT) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 62,057 shares, a drop of 27.0% from the December 15th total of 85,014 shares. Based on an average trading volume of 50,415 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.1% of the company’s shares are short sold. Approximately 1.1% of the company’s shares are short sold. Based on an average trading volume of 50,415 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Orangekloud Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Orangekloud Technology currently has an average rating of “Hold” and a consensus price target of $20.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Orangekloud Technology stock. Citadel Advisors LLC bought a new position in shares of Orangekloud Technology Inc. (NASDAQ:ORKT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,601 shares of the company’s stock, valued at approximately $34,000. Citadel Advisors LLC owned 0.28% of Orangekloud Technology at the end of the most recent reporting period.

Orangekloud Technology Price Performance

NASDAQ:ORKT traded down $0.07 on Friday, reaching $0.72. The company’s stock had a trading volume of 17,160 shares, compared to its average volume of 33,409. Orangekloud Technology has a 12-month low of $0.62 and a 12-month high of $15.40. The stock has a 50 day moving average price of $0.96 and a 200 day moving average price of $1.92.

About Orangekloud Technology

Orangekloud Technology, Inc is a holding company, which engages in providing information technology consulting services. Its digital transformation projects include the sales and consulting of Microsoft Dynamics ERP software licenses. It operates through the Packaged Software Solutions, and No-Code Platform and Mobile Application segments. The Packaged Software Solutions segment refers to packaged software and custom software solutions. The No-Code Platform and Mobile Application focuses on providing a rapid development environment through a No-Code platform.