Wing Yip Food Holdings Group Limited - Sponsored ADR (NASDAQ:WYHG) Sees Significant Growth in Short Interest

Key Points

• Short interest rose 58.5% to 137,796 shares as of August 14, representing 1.1% of outstanding shares. Despite the increase, the stock’s average trading volume produces a days-to-cover ratio of 0.0 days.
• WYHG shares were trading at $4.63 after declining 6.3%, with the stock positioned well above its 12-month low of $1.56 but below its high of $26.17.
• Analyst sentiment remains negative: MarketBeat reports an average rating of “Sell”, although Wall Street Zen upgraded the stock to “Hold.” Several institutions, including Renaissance Technologies and Goldman Sachs, increased their positions.

Wing Yip Food Holdings Group Limited - Sponsored ADR (NASDAQ:WYHG - Get Free Report) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 137,796 shares, a growth of 58.5% from the July 30th total of 86,935 shares. Based on an average trading volume of 8,041,843 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.1% of the company's shares are sold short.

Wing Yip Food Holdings Group Trading Down 6.3%

Shares of Wing Yip Food Holdings Group stock opened at $4.63 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.42 and a current ratio of 4.77. The company has a fifty day simple moving average of $4.62 and a 200-day simple moving average of $3.31. Wing Yip Food Holdings Group has a 12-month low of $1.56 and a 12-month high of $26.17.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WYHG. Wall Street Zen raised Wing Yip Food Holdings Group to a "hold" rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded shares of Wing Yip Food Holdings Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Institutional Trading of Wing Yip Food Holdings Group

Several institutional investors and hedge funds have recently made changes to their positions in WYHG. Renaissance Technologies LLC increased its stake in Wing Yip Food Holdings Group by 296.1% in the fourth quarter. Renaissance Technologies LLC now owns 60,200 shares of the company's stock valued at $33,000 after purchasing an additional 45,000 shares during the period. Centiva Capital LP acquired a new position in Wing Yip Food Holdings Group in the 3rd quarter valued at $37,000. Virtu Financial LLC acquired a new position in shares of Wing Yip Food Holdings Group during the third quarter worth about $38,000. Citadel Advisors LLC acquired a new position in shares of Wing Yip Food Holdings Group during the third quarter worth about $46,000. Finally, Goldman Sachs Group Inc. lifted its position in Wing Yip Food Holdings Group by 73.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 137,500 shares of the company's stock valued at $76,000 after purchasing an additional 58,045 shares during the period.

Wing Yip Food Holdings Group Company Profile

Wing Yip Food Holdings Group NASDAQ: WYHG is a specialist retailer and distributor of Asian food products, operating a network of hypermarkets, wholesale warehouses and online channels. The company's core business encompasses the sourcing, importation and sale of a broad assortment of groceries from China, Southeast Asia and other regions, including fresh produce, frozen seafood, rice, noodles, sauces, spices and specialty ingredients.

Through its flagship hypermarkets in key metropolitan areas of the United Kingdom, Wing Yip provides both retail customers and foodservice operators with access to a comprehensive range of Asian culinary products.

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