Locafy Limited (NASDAQ:LCFY) Sees Significant Decrease in Short Interest

Locafy Limited (NASDAQ:LCFY) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 22,452 shares, a decline of 25.3% from the March 15th total of 30,065 shares. Based on an average daily trading volume, of 8,863 shares, the short-interest ratio is currently 2.5 days. Approximately 1.7% of the company’s shares are sold short.

Locafy Stock Performance

Shares of Locafy stock traded down $0.03 on Thursday, reaching $4.58. 4,491 shares of the company’s stock were exchanged, compared to its average volume of 9,090. The company has a market capitalization of $8.24 million, a P/E ratio of -4.40 and a beta of 1.80. Locafy has a 52 week low of $2.50 and a 52 week high of $13.98. The firm’s 50-day moving average is $4.28 and its two-hundred day moving average is $4.11.

Insider Buying and Selling at Locafy

In related news, COO Jason Dale Jackson acquired 9,285 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $4.20 per share, with a total value of $38,997.00. Following the completion of the purchase, the chief operating officer directly owned 11,050 shares in the company, valued at $46,410. The trade was a 526.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 28.70% of the company’s stock.

About Locafy

Locafy (NASDAQ:LCFY) is a technology company that offers a cloud-based software platform designed to streamline and automate local search marketing for multi-location businesses. Through its SaaS solution, Locafy enables brands to create, manage and optimize location-specific web pages and digital assets at scale, ensuring consistent and accurate information across search engines and online directories.

The Locafy platform leverages machine learning and automation to generate on-page SEO content, manage business listings and track local search performance.