Springview Holdings Ltd (NASDAQ:SPHL) Shares Shorted: Short Interest Up 664.7% in October

Springview Holdings Ltd (NASDAQ:SPHL) was the recipient of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 86,604 shares, a growth of 664.7% from the October 15th total of 11,325 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily volume of 4,771,839 shares, the days-to-cover ratio is presently 0.0 days.

Springview Stock Down 4.6%

Shares of Springview stock opened at $2.27 on Wednesday. Springview has a 12 month low of $1.92 and a 12 month high of $25.11. The business has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $2.85.

Springview (NASDAQ:SPHL) last issued its earnings results on Friday, August 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $2.00 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Springview stock. StoneX Group Inc. bought a new position in Springview Holdings Ltd (NASDAQ:SPHL) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,852 shares of the company’s stock, valued at approximately $30,000. StoneX Group Inc. owned 0.52% of Springview as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Springview in a research report on Friday, October 30th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

About Springview

Springview Holdings Limited is a blank check company incorporated in the Cayman Islands. The company was formed to pursue a business combination with one or more operating businesses, which may include a merger, share exchange, asset acquisition, share purchase, reorganization or similar transaction. As a special purpose acquisition company, Springview does not have significant operating activities, products or services of its own. Its principal objective is to identify and complete a transaction with a target business, although there is no assurance that a suitable transaction will be completed.