AirMedia Group Inc (NASDAQ:ANTE) Short Interest Up 59.4% in August

Key Points

• AirMedia Group Inc experienced a significant increase in short interest, rising by 59.4% to a total of 1,510,000 shares as of August 31st.
• The company's stock has declined by 2.0%, with current trading at $4.84, compared to a twelve month low of $0.26 and high of $6.69.
• Wall Street Zen recently upgraded AirMedia Group to a "hold" rating, indicating a shift in market perception.

AirMedia Group Inc (NASDAQ:ANTE - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,510,000 shares, a growth of 59.4% from the August 15th total of 947,100 shares. Based on an average daily volume of 555,500 shares, the days-to-cover ratio is presently 2.7 days. Currently, 10.5% of the shares of the company are short sold. Currently, 10.5% of the shares of the company are short sold. Based on an average daily volume of 555,500 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of AirMedia Group to a "hold" rating in a research note on Saturday, September 13th.

AirMedia Group Price Performance

Shares of NASDAQ:ANTE traded down $0.06 during trading hours on Friday, hitting $3.66. The stock had a trading volume of 305,623 shares, compared to its average volume of 1,435,324. AirMedia Group has a 1-year low of $0.27 and a 1-year high of $6.69. The stock's fifty day simple moving average is $2.90 and its 200 day simple moving average is $1.45.

About AirMedia Group

AirNet Technology Inc, together with its subsidiaries, operates out-of-home advertising networks in the People's Republic of China. It provides in-flight solutions to connectivity, entertainment, and digital multimedia; in-flight entertainment and advertising contents, including sports, comedies, local attractions, reality shows, commentaries, documentaries, and copyrighted entertainment contents; and internet connections through a network of satellites and land-based beacons.