Short Interest in LIZHI INC. Sponsored ADR (NASDAQ:SOGP) Declines By 65.3%

Key Points

• Short interest in LIZHI INC. decreased by 65.3% to 388,600 shares as of September 15 from 1,120,000 shares at the end of August, representing approximately 11.8% of the company's stock.
• Argentarii LLC acquired a new stake in LIZHI by purchasing 50,000 shares valued at around $110,000, raising its ownership to 1.02%.
• LIZHI announced a dividend of $1.00 per share, paid on September 30 to shareholders of record as of September 15.

LIZHI INC. Sponsored ADR (NASDAQ:SOGP - Get Free Report) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 388,600 shares, a decrease of 65.3% from the August 31st total of 1,120,000 shares. Based on an average daily volume of 2,830,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 11.8% of the company's stock are short sold. Approximately 11.8% of the company's stock are short sold. Based on an average daily volume of 2,830,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of LIZHI to a "hold" rating in a research note on Saturday, July 26th.

Institutional Investors Weigh In On LIZHI

A hedge fund recently bought a new stake in LIZHI stock. Argentarii LLC bought a new stake in shares of LIZHI INC. Sponsored ADR (NASDAQ:SOGP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company's stock, valued at approximately $110,000. Argentarii LLC owned 1.02% of LIZHI at the end of the most recent quarter. Hedge funds and other institutional investors own 1.62% of the company's stock.

LIZHI Price Performance

SOGP traded down $0.55 during mid-day trading on Thursday, reaching $19.31. 54,379 shares of the company traded hands, compared to its average volume of 1,203,734. The company's fifty day moving average price is $12.93 and its 200-day moving average price is $6.19. LIZHI has a 52-week low of $1.18 and a 52-week high of $37.00.

LIZHI Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, October 1st.

LIZHI Company Profile

Sound Group Inc operates as an audio-centric social and entertainment company. It focuses on building audio platform to connect and communicate. The company, through its product portfolio and in-house technologies, caters to user interest in audio entertainment and social networking. The company was formerly known as LIZHI INC.

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