Short Interest in Kingdee International Software Group Co., Ltd. Unsponsored ADR (OTCMKTS:KGDEY) Drops By 77.5%

Key Points

• Short interest in KGDEY plunged 77.5% to 34 shares as of March 31 (down from 151 on March 15), leaving a days-to-cover of 0.4 and effectively 0.0% of shares sold short.
• Shares fell 5.5%, opening at $105.72 and trading near a 1-year low of $101.50, well below the 50-day ($127.86) and 200-day ($166.40) moving averages.
• Company profile: Kingdee is a provider of enterprise management software and cloud SaaS, offering ERP and modular solutions for financials, supply chain, manufacturing, HCM and CRM to SMEs and large organizations.

Kingdee International Software Group Co., Ltd. Unsponsored ADR (OTCMKTS:KGDEY - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 34 shares, a decrease of 77.5% from the March 15th total of 151 shares. Based on an average daily volume of 88 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the company's shares are sold short.

Kingdee International Software Group Stock Down 5.5%

Shares of KGDEY opened at $105.72 on Friday. Kingdee International Software Group has a 1-year low of $101.50 and a 1-year high of $247.26. The firm's 50-day moving average price is $127.86 and its 200-day moving average price is $166.40.

About Kingdee International Software Group

Kingdee International Software Group, trading OTCMKTS: KGDEY, is a leading provider of enterprise management software and cloud services. The company specializes in developing integrated solutions that support financial management, supply chain operations, manufacturing, human capital management and customer relationship functions. Its flagship offerings include on-premise enterprise resource planning (ERP) systems as well as cloud-native SaaS platforms designed for small and medium-sized enterprises (SMEs) and large organizations alike.

Kingdee's software suite features modular components that enable businesses to automate routine processes, improve data visibility and drive operational efficiency.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.