VCI Global Limited (NASDAQ:VCIG) Sees Large Decline in Short Interest

VCI Global Limited (NASDAQ:VCIG) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 145,436 shares, a drop of 85.3% from the May 31st total of 989,757 shares. Based on an average daily trading volume, of 765,080 shares, the short-interest ratio is currently 0.2 days. Approximately 7.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in VCI Global stock. Jane Street Group LLC purchased a new position in shares of VCI Global Limited (NASDAQ:VCIG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 47,075 shares of the company’s stock, valued at approximately $25,000. Jane Street Group LLC owned 0.78% of VCI Global as of its most recent filing with the SEC. 0.20% of the stock is owned by institutional investors.

VCI Global Trading Down 16.2%

Shares of NASDAQ VCIG opened at $3.77 on Friday. The firm’s 50-day moving average price is $3.09 and its 200-day moving average price is $16.13. VCI Global has a 1-year low of $0.71 and a 1-year high of $4,408.38.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of VCI Global in a report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

About VCI Global

VCI Global, Inc (NASDAQ: VCIG) is a provider of outsourced receivables management and credit risk mitigation solutions for corporations, financial institutions and government agencies. The company offers end-to-end account administration services designed to streamline the order-to-cash cycle, helping clients improve cash flow, reduce days sales outstanding and mitigate credit risk across domestic and international markets.

VCI Global’s suite of services encompasses credit application processing, account setup, credit file creation, early-stage reconciliation and disputes management, cash application, and first- and third-party collections.