Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI) Sees Large Increase in Short Interest

Key Points

• Short interest in Joint Stock Company Kaspi.kz (NASDAQ:KSPI) surged by 78.1% in August, totaling 802,100 shares compared to 450,300 shares in July, with a days-to-cover ratio of 2.7 days.
• The company's stock price fell 2.7% to $88.62, while it maintains a market cap of $17.68 billion and a PE ratio of 8.13.
• Analysts have a consensus target price of $122.00, with two ratings as "Buy" and one as "Hold," indicating positive growth expectations for the stock.

Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI - Get Free Report) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 802,100 shares, a growth of 78.1% from the July 31st total of 450,300 shares. Based on an average trading volume of 296,900 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.5% of the shares of the company are short sold. Approximately 0.5% of the shares of the company are short sold. Based on an average trading volume of 296,900 shares, the days-to-cover ratio is currently 2.7 days.

Joint Stock Company Kaspi.kz Price Performance

Shares of Joint Stock Company Kaspi.kz stock traded down $0.15 during trading on Thursday, reaching $84.91. The company's stock had a trading volume of 630,649 shares, compared to its average volume of 314,144. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. Joint Stock Company Kaspi.kz has a 12-month low of $75.90 and a 12-month high of $126.19. The company has a market capitalization of $16.94 billion, a P/E ratio of 7.79 and a beta of 1.09. The business has a 50 day moving average price of $88.44 and a 200-day moving average price of $88.67.

Institutional Investors Weigh In On Joint Stock Company Kaspi.kz

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Joint Stock Company Kaspi.kz by 8.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 313,992 shares of the company's stock worth $29,154,000 after acquiring an additional 24,616 shares in the last quarter. Flossbach Von Storch SE increased its position in Joint Stock Company Kaspi.kz by 66.7% in the 1st quarter. Flossbach Von Storch SE now owns 25,000 shares of the company's stock valued at $2,321,000 after acquiring an additional 10,000 shares during the period. Baillie Gifford & Co. increased its position in Joint Stock Company Kaspi.kz by 17.1% in the 1st quarter. Baillie Gifford & Co. now owns 5,260,033 shares of the company's stock valued at $488,394,000 after acquiring an additional 768,529 shares during the period. Nikko Asset Management Americas Inc. increased its position in Joint Stock Company Kaspi.kz by 8.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 313,545 shares of the company's stock valued at $29,113,000 after acquiring an additional 24,616 shares during the period. Finally, Quantbot Technologies LP bought a new position in Joint Stock Company Kaspi.kz during the 1st quarter valued at $110,000. 32.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $96.00 price target on shares of Joint Stock Company Kaspi.kz in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.00.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants.