Short Interest in Scienture Holdings, Inc. (NASDAQ:SCNX) Decreases By 25.7%

Scienture Holdings, Inc. (NASDAQ:SCNX) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 2,223,915 shares, a decline of 25.7% from the March 15th total of 2,993,473 shares. Currently, 7.0% of the company’s shares are sold short. Based on an average trading volume of 1,046,354 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Ratings Changes

Several research firms recently commented on SCNX. Maxim Group began coverage on shares of Scienture in a report on Tuesday, February 24th. They set a “buy” rating and a $1.50 target price on the stock. Wall Street Zen upgraded shares of Scienture to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Scienture in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.50.

Institutional Trading of Scienture

A hedge fund recently raised its stake in Scienture stock. Geode Capital Management LLC boosted its holdings in shares of Scienture Holdings, Inc. (NASDAQ:SCNX) by 264.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,201 shares of the company’s stock after purchasing an additional 229,398 shares during the period. Geode Capital Management LLC owned about 0.78% of Scienture worth $161,000 at the end of the most recent reporting period. Institutional investors own 5.68% of the company’s stock.

Scienture Stock Up 13.6%

Shares of Scienture stock traded up $0.05 on Wednesday, hitting $0.38. The stock had a trading volume of 2,250,669 shares, compared to its average volume of 2,996,792. Scienture has a one year low of $0.24 and a one year high of $2.60. The stock’s 50-day simple moving average is $0.41 and its two-hundred day simple moving average is $0.57. The stock has a market cap of $15.56 million, a price-to-earnings ratio of -0.14 and a beta of 3.15.

Scienture (NASDAQ:SCNX) last posted its quarterly earnings results on Monday, March 30th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($1.48). The company had revenue of ($0.17) million for the quarter, compared to the consensus estimate of $0.49 million.

About Scienture

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.