SAIHEAT Limited (NASDAQ:SAIH) Stock Short Interest Drops 46.4%

Key Points

• SAIHEAT’s short interest fell 46.4% to 2,543 shares as of October 15, representing 0.1% of shares outstanding and a days-to-cover ratio of 0.1.
• Shares dropped 7.5% to $25.26 in Friday trading, while remaining within a 52-week range of $5.90 to $33.00.
• Analysts maintain a negative outlook, with the stock holding an average “Sell” rating; meanwhile, Sowell Financial Services opened a position worth approximately $463,000.

SAIHEAT Limited (NASDAQ:SAIH - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 2,543 shares, a decrease of 46.4% from the September 30th total of 4,745 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 17,785 shares, the days-to-cover ratio is currently 0.1 days.

SAIHEAT Stock Down 7.5%

NASDAQ SAIH traded down $2.04 during trading hours on Friday, hitting $25.26. The company had a trading volume of 31,959 shares, compared to its average volume of 20,290. SAIHEAT has a 52 week low of $5.90 and a 52 week high of $33.00. The firm has a 50 day simple moving average of $26.37 and a 200 day simple moving average of $14.92.

Analyst Ratings Changes

Several research firms have commented on SAIH. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SAIHEAT in a report on Friday, August 21st. Wall Street Zen upgraded shares of SAIHEAT to a "sell" rating in a research note on Saturday, October 3rd. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of "Sell".

Hedge Funds Weigh In On SAIHEAT

An institutional investor recently bought a new position in SAIHEAT stock. Sowell Financial Services LLC purchased a new position in SAIHEAT Limited (NASDAQ:SAIH - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,226 shares of the company's stock, valued at approximately $463,000. Sowell Financial Services LLC owned 0.89% of SAIHEAT as of its most recent filing with the Securities and Exchange Commission (SEC). 0.16% of the stock is currently owned by hedge funds and other institutional investors.

About SAIHEAT

SAIHEAT Limited is a clean-energy technology company focused on thermal energy storage and heat-management solutions. Its products and services are designed to help commercial and industrial customers store and use thermal energy more efficiently, potentially supporting energy conservation and the integration of renewable power.

Publicly available information about SAIHEAT Limited's operating history, geographic markets and leadership is limited.

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