Chijet Motor Company, Inc. (NASDAQ:DCX – Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 125,635 shares, a decrease of 78.4% from the July 30th total of 581,799 shares. Approximately 62.8% of the shares of the stock are sold short. Based on an average daily volume of 70,288 shares, the days-to-cover ratio is currently 1.8 days.
Insider Buying and Selling at Chijet Motor
In other news, CEO Melissa N. Chen bought 41,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average price of $1.25 per share, for a total transaction of $51,250.00. Following the transaction, the chief executive officer directly owned 41,000 shares of the company’s stock, valued at $51,250. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.04% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chijet Motor in a report on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Chijet Motor currently has a consensus rating of “Sell”.
Chijet Motor Stock Performance
Shares of Chijet Motor stock opened at $0.98 on Wednesday. Chijet Motor has a 52-week low of $0.63 and a 52-week high of $2,148.00. The company’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.77.
About Chijet Motor
Chijet Motor Company, Inc engages in the research and development, production, and sale of new energy vehicles. It offers battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The company was founded in 2021 and is based in Grand Cayman, the Cayman Islands.
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