Lucas GC Limited (NASDAQ:LGCL) Sees Significant Increase in Short Interest

Key Points

• Short interest in Lucas GC Limited surged in June, rising to 2,284,068 shares as of June 30 from 16,631 shares on June 15, a jump of 13,633.8%. Short interest now represents about 5.3% of the float.
• Sentiment remains weak, with Weiss Ratings reiterating a “sell (d)” rating and MarketBeat data showing an overall average analyst rating of “Sell.”
• The stock has been under pressure, recently trading at $1.32, well below its 50-day and 200-day moving averages, after reporting a quarterly loss of $0.44 per share on revenue of $47.48 million.

Lucas GC Limited (NASDAQ:LGCL - Get Free Report) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,284,068 shares, a growth of 13,633.8% from the June 15th total of 16,631 shares. Based on an average trading volume of 12,243,724 shares, the days-to-cover ratio is currently 0.2 days. Approximately 5.3% of the company's shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Lucas GC in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Institutional Trading of Lucas GC

An institutional investor recently bought a new stake in Lucas GC stock. Boothbay Fund Management LLC bought a new stake in Lucas GC Limited (NASDAQ:LGCL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,500 shares of the company's stock, valued at approximately $29,000.

Lucas GC Stock Performance

Shares of Lucas GC stock traded down $0.04 during mid-day trading on Friday, hitting $1.32. The stock had a trading volume of 174,376 shares, compared to its average volume of 1,183,736. The firm has a 50-day moving average of $1.72 and a two-hundred day moving average of $1.82. Lucas GC has a 12-month low of $0.65 and a 12-month high of $46.40.

Lucas GC (NASDAQ:LGCL - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The company reported ($0.44) EPS for the quarter. The firm had revenue of $47.48 million for the quarter.

About Lucas GC

Lucas GC Limited, through its subsidiaries, provides online agent-centric human capital management services based on platform-as-a-service (PaaS) in the People's Republic of China. Its Star Career and Columbus platforms enables registered users to receive customized job recommendations and work as talent scouts to source suitable candidates for its corporate customers through their social network, as well as receive trainings and other value-added services. The company's platform provides permanent and flexible employment recruitment services; outsourcing services primarily for technology-related projects to design, develop, and deliver the projects within budget and on time with acceptable quality; information technology services to generate sales leads for its corporate customers; and training services comprising career-related certification programs.

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