JX Luxventure Group Inc (NASDAQ:JXG) Sees Large Decrease in Short Interest

JX Luxventure Group Inc (NASDAQ:JXG) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,243 shares, a drop of 71.0% from the May 14th total of 7,734 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 9,695 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On JX Luxventure Group

A hedge fund recently bought a new stake in JX Luxventure Group stock. HRT Financial LP purchased a new stake in shares of JX Luxventure Group Inc (NASDAQ:JXG) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 23,213 shares of the company’s stock, valued at approximately $139,000. HRT Financial LP owned about 15.48% of JX Luxventure Group as of its most recent filing with the SEC. 5.32% of the stock is owned by institutional investors.

JX Luxventure Group Price Performance

JXG stock traded down $0.44 during mid-day trading on Friday, reaching $8.94. 3,221 shares of the company traded hands, compared to its average volume of 10,776. JX Luxventure Group has a fifty-two week low of $3.01 and a fifty-two week high of $37.95. The firm’s 50 day moving average price is $5.63 and its 200 day moving average price is $5.15.

JX Luxventure Group (NASDAQ:JXG) last released its quarterly earnings results on Friday, May 15th. The company reported ($11.33) earnings per share (EPS) for the quarter. The business had revenue of $28.88 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded JX Luxventure Group from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, JX Luxventure Group presently has an average rating of “Sell”.

About JX Luxventure Group

JX Luxventure Group Inc is a special purpose acquisition company incorporated in Delaware. As a blank check entity, it has no commercial operations of its own and was established to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The company’s sponsors and management team bring experience in financial services, corporate finance and mergers and acquisitions.