Sui Group Holdings Limited (NASDAQ:SUIG) Shares Shorted: Short Interest Down 36.1% in October

Key Points

• Short interest fell 36.1% in October to 515,870 shares, representing about 0.7% of Sui Group’s outstanding shares and 0.7 days to cover.
• Analyst views remain mixed: two analysts rate the stock Buy, one Hold and one Sell. The consensus rating is Hold, with a $3.40 price target after Cantor Fitzgerald raised its target from $1.70.
• Sui Group’s latest quarterly results missed expectations, reporting a $0.23 loss per share versus a projected $0.12 loss, on just $0.36 million in revenue. The stock recently traded at $1.06, within a 52-week range of $0.79 to $2.90.

Sui Group Holdings Limited (NASDAQ:SUIG - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 515,870 shares, a drop of 36.1% from the September 30th total of 807,669 shares. Approximately 0.7% of the company's shares are sold short. Based on an average daily volume of 780,996 shares, the days-to-cover ratio is currently 0.7 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on SUIG shares. Cantor Fitzgerald increased their price target on shares of Sui Group from $1.70 to $3.40 and gave the stock an "overweight" rating in a research report on Thursday, September 10th. Alliance Global Partners reiterated a "buy" rating on shares of Sui Group in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Sui Group in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $3.40.

Sui Group Price Performance

NASDAQ:SUIG traded up $0.03 during trading hours on Monday, hitting $1.06. The company's stock had a trading volume of 17,242 shares, compared to its average volume of 545,392. Sui Group has a 52-week low of $0.79 and a 52-week high of $2.90. The company has a market capitalization of $81.33 million, a PE ratio of -3.53 and a beta of 1.29. The company has a fifty day simple moving average of $1.24.

Sui Group (NASDAQ:SUIG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.11). The business had revenue of $0.36 million for the quarter. Sui Group had a negative return on equity of 130.66% and a negative net margin of 11,371.76%. As a group, analysts predict that Sui Group will post -0.32 earnings per share for the current year.

About Sui Group

Sui Group Holdings Limited, formerly known as Mill City Ventures III, Ltd., is a digital asset treasury and investment company focused on the Sui blockchain ecosystem. The company's strategy centers on acquiring and holding SUI, the native digital asset of the Sui network, as well as supporting opportunities connected to the broader ecosystem.

Sui is a Layer 1 blockchain designed to support decentralized applications, digital assets and other blockchain-based services. Through its treasury strategy, Sui Group seeks to provide investors with publicly traded exposure to SUI and may pursue investments or partnerships involving projects, infrastructure and businesses that use or contribute to the Sui network.

The company trades on the Nasdaq Capital Market under the symbol SUIG.

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