XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) Sees Significant Drop in Short Interest

XChange TEC.INC. Sponsored ADR (NASDAQ:XHGGet Free Report) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 27,049 shares, a drop of 36.7% from the April 30th total of 42,750 shares. Based on an average trading volume of 4,209 shares, the short-interest ratio is currently 6.4 days. Approximately 0.1% of the company’s stock are sold short.

XChange TEC.INC. Trading Up 5.1%

NASDAQ XHG opened at $1.03 on Wednesday. The firm’s 50 day moving average is $0.99 and its 200-day moving average is $0.93. XChange TEC.INC. has a 12-month low of $0.65 and a 12-month high of $2.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of XChange TEC.INC. in a research note on Friday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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XChange TEC.INC. Company Profile

(Get Free Report)

XChange TEC.INC engages in the professional insurance agency business in the People’s Republic of China. The company provides a various insurance products underwritten by insurance companies, including state-owned property and casualty insurance companies, as well as various regional property and casualty insurance companies. It also offers automobile, life, health, group accident, and other property related insurances primarily to individual end consumers. In addition, the company operates a SaaS platform to offer comprehensive services to online customers.

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