LIZHI INC. Sponsored ADR (NASDAQ:SOGP) Sees Significant Increase in Short Interest

Key Points

• LIZHI INC. (NASDAQ:SOGP) experienced a dramatic increase in short interest of 2,131.1%, reaching a total of 1,120,000 shares as of August 31st, with approximately 34.0% of its shares sold short.
• The company announced a dividend of $1.00 per share payable on September 30th, with an ex-dividend date of October 1st.;
• Argentarii LLC, an institutional investor, acquired 50,000 shares of LIZHI during the 1st quarter, which represents 1.02% of the company’s stock.

LIZHI INC. Sponsored ADR (NASDAQ:SOGP - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,120,000 shares, a growth of 2,131.1% from the August 15th total of 50,200 shares. Based on an average trading volume of 3,320,000 shares, the short-interest ratio is currently 0.3 days. Currently, 34.0% of the shares of the company are sold short. Currently, 34.0% of the shares of the company are sold short. Based on an average trading volume of 3,320,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On LIZHI

A hedge fund recently bought a new stake in LIZHI stock. Argentarii LLC purchased a new stake in shares of LIZHI INC. Sponsored ADR (NASDAQ:SOGP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the company's stock, valued at approximately $110,000. Argentarii LLC owned about 1.02% of LIZHI at the end of the most recent quarter. 1.62% of the stock is currently owned by institutional investors and hedge funds.

LIZHI Stock Performance

Shares of SOGP traded down $2.81 during mid-day trading on Tuesday, reaching $22.71. 257,895 shares of the company's stock traded hands, compared to its average volume of 1,272,158. The business's 50-day moving average price is $9.47 and its 200-day moving average price is $4.75. LIZHI has a 12 month low of $1.18 and a 12 month high of $37.00.

LIZHI Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, October 1st.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of LIZHI to a "hold" rating in a report on Saturday, July 26th.

About LIZHI

Sound Group Inc operates as an audio-centric social and entertainment company. It focuses on building audio platform to connect and communicate. The company, through its product portfolio and in-house technologies, caters to user interest in audio entertainment and social networking. The company was formerly known as LIZHI INC.