Short Interest in SOLAI Limited (NYSE:SLAI) Decreases By 83.0%

SOLAI Limited (NYSE:SLAI) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 80,921 shares, a drop of 83.0% from the June 30th total of 477,149 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 94,558 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SOLAI in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SOLAI presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On SOLAI

An institutional investor recently bought a new stake in SOLAI stock. Two Sigma Investments LP acquired a new position in shares of SOLAI Limited (NYSE:SLAI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 57,904 shares of the company’s stock, valued at approximately $156,000. Two Sigma Investments LP owned 0.35% of SOLAI as of its most recent SEC filing. 5.34% of the stock is owned by hedge funds and other institutional investors.

SOLAI Stock Performance

Shares of NYSE SLAI remained flat at $3.72 during mid-day trading on Monday. SOLAI has a fifty-two week low of $2.59 and a fifty-two week high of $32.27. The business has a 50 day moving average price of $3.86 and a 200 day moving average price of $5.29. The firm has a market capitalization of $10.23 million, a price-to-earnings ratio of -0.82 and a beta of 3.02.

SOLAI (NYSE:SLAI) last released its earnings results on Tuesday, May 26th. The company reported ($0.34) EPS for the quarter. The firm had revenue of $7.92 million for the quarter.

SOLAI Company Profile

BIT Mining Limited operates as a cryptocurrency mining company in the Mainland China, the United States, and Hong Kong. The company operates in two segments: Data Center and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 82.5 megawatts; and purchases and deploys bitcoin mining machines. In addition, it engages in online gaming activities; and provision of technology services. The company was formerly known as 500.com Limited and changed its name to BIT Mining Limited in April 2021.