XCHG Limited (NASDAQ:XCH) Sees Significant Drop in Short Interest

XCHG Limited (NASDAQ:XCH – Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 65,678 shares, a drop of 54.4% from the July 15th total of 144,160 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 42,110 shares, the short-interest ratio is currently 1.6 days.

XCHG Stock Performance

Shares of XCH opened at $0.26 on Monday. The firm has a market cap of $20.81 million, a PE ratio of -3.19 and a beta of -1.01. The firm’s 50 day moving average price is $234.12 and its 200 day moving average price is $349.46. XCHG has a twelve month low of $0.23 and a twelve month high of $2.50.

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Shares of XCHG are scheduled to reverse split before the market opens on Friday, August 21st. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, August 20th.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of XCHG in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, XCHG currently has an average rating of “Reduce”.

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XCHG Company Profile

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XCHG Limited, branded as XCharge, is a company whose subsidiaries design, manufacture, and sell electric vehicle (EV) charging solutions under the X-Charge name in Europe, China, the United States, and other international markets. The company focuses on DC fast-charging infrastructure, including its C6 and C7 series chargers and Net Zero battery-integrated fast-charging systems, and also provides related software upgrades and hardware maintenance services for EV manufacturers, energy companies, and charge point operators.

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