QMMM Holdings Limited (NASDAQ:QMMM) Sees Significant Decrease in Short Interest

Key Points

• QMMM Holdings Limited experienced a 52.7% decrease in short interest from August to September, reducing the total to 4,440,000 shares.
• Analyst ratings for QMMM shifted, with Wall Street Zen upgrading the stock from a "sell" to a "hold," while Weiss Ratings reaffirmed a "sell" rating.
• The company's stock price surged 19.4% to $119.40, with notable trading activity of 773,300 shares on Friday.

QMMM Holdings Limited (NASDAQ:QMMM - Get Free Report) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 4,440,000 shares, a decrease of 52.7% from the August 31st total of 9,390,000 shares. Approximately 9.1% of the company's stock are sold short. Based on an average daily volume of 4,800,000 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 4,800,000 shares, the short-interest ratio is currently 0.9 days. Approximately 9.1% of the company's stock are sold short.

Analyst Ratings Changes

QMMM has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of QMMM from a "sell" rating to a "hold" rating in a research report on Monday. Weiss Ratings reissued a "sell (e+)" rating on shares of QMMM in a research report on Saturday, September 27th.

QMMM Trading Up 19.4%

Shares of NASDAQ:QMMM traded up $19.40 on Friday, hitting $119.40. The company's stock had a trading volume of 773,300 shares, compared to its average volume of 2,364,426. QMMM has a 12 month low of $0.54 and a 12 month high of $303.00. The stock's 50-day moving average is $40.62 and its two-hundred day moving average is $14.77.

QMMM Company Profile

QMMM Holdings Ltd. engages in the provision of digital advertising services. It offers interactive design, animation, art-tech and virtual technologies used in commercial campaigns. It has worked with domestic and international banks, real estate developers, amusement parks, international athletic apparel, footwear brands, luxury cosmetic products, and international brands.

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