Short Interest in Skyline Builders Group Holding Limited (NASDAQ:SKBL) Declines By 32.9%

Key Points

• Short interest in Skyline Builders Group Holding Limited declined by 32.9% in September, with a total of 1,020,000 shares shorted as of September 15th.
• Despite recent financial interest from hedge funds, analysts maintain a “sell” rating for the stock, which reflects a cautious outlook among market experts.
• SKBL stock is currently trading at $3.08, a significant drop from its 52-week high of $14.25, indicating volatility in its market performance.

Skyline Builders Group Holding Limited (NASDAQ:SKBL - Get Free Report) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 1,020,000 shares, a drop of 32.9% from the August 31st total of 1,520,000 shares. Based on an average trading volume of 3,720,000 shares, the short-interest ratio is currently 0.3 days. Approximately 11.0% of the company's stock are short sold. Approximately 11.0% of the company's stock are short sold. Based on an average trading volume of 3,720,000 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (e)" rating on shares of Skyline Builders Group in a research note on Saturday, September 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Hedge Funds Weigh In On Skyline Builders Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC acquired a new position in Skyline Builders Group during the second quarter worth $281,000. JPMorgan Chase & Co. acquired a new position in shares of Skyline Builders Group in the second quarter worth $574,000. BNP Paribas Financial Markets acquired a new position in shares of Skyline Builders Group in the second quarter worth $727,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Skyline Builders Group in the second quarter worth $1,258,000.

Skyline Builders Group Stock Performance

SKBL stock traded down $0.07 during midday trading on Monday, hitting $3.08. 837,582 shares of the stock were exchanged, compared to its average volume of 1,926,859. The stock's 50-day moving average price is $1.52 and its 200-day moving average price is $7.06. Skyline Builders Group has a fifty-two week low of $0.42 and a fifty-two week high of $14.25.

About Skyline Builders Group

Skyline Builders Group Holding Ltd. operates as an exempted limited liability company. It operates business through its subsidiary, Kin Chiu Engineering Limited, which provides construction activities include public civil engineering works, such as road and drainage works in Hong Kong. The company was founded on June 25, 2024 and is headquartered in Hong Kong.

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