Huami Corp (NYSE:HMI) Sees Large Drop in Short Interest

Huami Corp (NYSE:HMI) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 320,700 shares, a decrease of 24.1% from the June 30th total of 422,300 shares. Approximately 3.3% of the company’s stock are short sold. Based on an average trading volume of 317,800 shares, the days-to-cover ratio is presently 1.0 days.

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of Huami by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 556,100 shares of the company’s stock worth $5,561,000 after buying an additional 61,516 shares during the last quarter. Fosun International Ltd acquired a new stake in Huami in the 2nd quarter valued at about $258,000. Acadian Asset Management LLC bought a new position in Huami in the 2nd quarter valued at about $1,272,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Huami in the 2nd quarter valued at about $159,000. Finally, Monashee Investment Management LLC raised its holdings in Huami by 43.1% in the 2nd quarter. Monashee Investment Management LLC now owns 30,969 shares of the company’s stock valued at $310,000 after acquiring an additional 9,332 shares during the period. Institutional investors and hedge funds own 15.17% of the company’s stock.

NYSE HMI traded down $0.05 during trading hours on Monday, hitting $10.44. 139,100 shares of the company’s stock were exchanged, compared to its average volume of 320,407. The stock has a 50 day simple moving average of $10.41. Huami has a 12-month low of $7.27 and a 12-month high of $19.66. The firm has a market capitalization of $641.89 million, a price-to-earnings ratio of 11.74 and a beta of 2.59.

Huami (NYSE:HMI) last released its earnings results on Monday, June 3rd. The company reported $0.18 earnings per share for the quarter. Huami had a return on equity of 23.00% and a net margin of 10.35%. The firm had revenue of $119.14 million for the quarter.

Several equities research analysts recently weighed in on HMI shares. ValuEngine upgraded Huami from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. TheStreet raised Huami from a “d+” rating to a “c-” rating in a report on Wednesday, June 26th.

About Huami

Huami Corporation, a biometric and activity data-driven company, develops, manufactures, and sells smart wearable technological devices in the People's Republic of China. It operates through two segments, Xiaomi Wearable Products, and Self-Branded Products and Others. The company offers smart bands, watches, and scales; and a range of accessories, including bands, watch straps, necklaces, sportswear, etc.

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