OneConstruction Group Limited (NASDAQ:ONEG) Short Interest Update

Key Points

• Short interest plunged 56.7% to 61,142 shares as of March 31 from 141,291 on March 15, representing about 0.5% of shares and a days-to-cover ratio of just 0.1.
• Analyst coverage is mixed but weak overall with MarketBeat showing an average rating of "Sell"; Weiss Ratings reiterated a sell while Wall Street Zen recently upgraded the stock to a hold.
• Hedge fund activity: XTX Topco Ltd bought a new stake of 23,794 shares (~$31,000) in the fourth quarter, representing roughly 0.18% ownership.

OneConstruction Group Limited (NASDAQ:ONEG - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 61,142 shares, a decrease of 56.7% from the March 15th total of 141,291 shares. Based on an average daily trading volume, of 634,571 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

ONEG has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d)" rating on shares of OneConstruction Group in a research note on Thursday, April 2nd. Wall Street Zen upgraded OneConstruction Group to a "hold" rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, OneConstruction Group has an average rating of "Sell".

Hedge Funds Weigh In On OneConstruction Group

A hedge fund recently bought a new stake in OneConstruction Group stock. XTX Topco Ltd bought a new stake in shares of OneConstruction Group Limited (NASDAQ:ONEG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,794 shares of the company's stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.18% of OneConstruction Group at the end of the most recent reporting period.

OneConstruction Group Stock Performance

ONEG stock traded up $0.22 during mid-day trading on Friday, reaching $3.87. 82,425 shares of the company's stock were exchanged, compared to its average volume of 532,804. The stock's 50 day moving average is $2.48 and its 200 day moving average is $4.51. OneConstruction Group has a 12-month low of $0.96 and a 12-month high of $13.50.

About OneConstruction Group

OneConstruction Group is a structural steelwork contractor principally in Hong Kong. The Company, through its subsidiaries, specializes in the procurement and installation of structural steel for a diverse range of construction projects, serving both public and private sector clients. OneConstruction Group is based in NEW YORK.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.