Short Interest in XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) Increases By 148,331.2%

XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 951,444 shares, an increase of 148,331.2% from the July 30th total of 641 shares. Based on an average daily volume of 8,594,020 shares, the short-interest ratio is presently 0.1 days. Currently, 1.9% of the company’s stock are sold short.

XChange TEC.INC. Stock Down 2.9%

NASDAQ:XHG traded down $0.12 during trading hours on Tuesday, hitting $3.98. 50,584 shares of the company were exchanged, compared to its average volume of 592,981. XChange TEC.INC. has a 52-week low of $0.65 and a 52-week high of $7.23. The company’s 50 day moving average price is $1.46 and its 200-day moving average price is $1.13.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of XChange TEC.INC. in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, XChange TEC.INC. has a consensus rating of “Sell”.

XChange TEC.INC. Company Profile

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.