Kuaishou Technology (OTCMKTS:KUASF) Shares Shorted: Short Interest Down 45.2% in October

Kuaishou Technology (OTCMKTS:KUASF) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 13,372,124 shares, a drop of 45.2% from the September 30th total of 24,418,954 shares. Based on an average trading volume of 2,636 shares, the days-to-cover ratio is currently 5,072.9 days.

Kuaishou Technology Price Performance

KUASF remained flat at $3.19 during trading hours on Friday. The company had a trading volume of 29,200 shares, compared to its average volume of 2,362. The company’s 50-day moving average price is $4.15 and its 200-day moving average price is $6.22. Kuaishou Technology has a one year low of $3.19 and a one year high of $11.00.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KUASF. The Goldman Sachs Group downgraded Kuaishou Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, August 20th. Citigroup downgraded shares of Kuaishou Technology from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.00.

Kuaishou Technology Company Profile

Kuaishou Technology is a Chinese internet company that operates short-video and livestreaming platforms. Its flagship Kuaishou app enables users to create, share and discover videos, participate in livestreams, interact with creators and communities, and communicate through social features. The company also operates the Kwai brand in selected international markets.

Kuaishou generates revenue primarily through online marketing services, livestreaming, and e-commerce. Its platforms allow businesses to promote products and services, while creators and merchants can sell goods through livestreams, short videos and other digital-commerce tools.