Short Interest in TOP Financial Group Limited (NASDAQ:TOP) Expands By 100.3%

Key Points

• Short interest doubled to 188,393 shares as of July 15, up 100.3% from June 30; about 3.9% of TOP’s shares are sold short.
• TOP shares opened at $2.26, well above their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.02 per share on $0.73 million in revenue.
• Analyst sentiment remains negative: MarketBeat reports a consensus “Sell” rating, while hedge funds and institutional investors own just 0.26% of the stock.

TOP Financial Group Limited (NASDAQ:TOP - Get Free Report) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 188,393 shares, an increase of 100.3% from the June 30th total of 94,053 shares. Based on an average daily volume of 396,117 shares, the short-interest ratio is presently 0.5 days. Approximately 3.9% of the company's shares are sold short.

TOP Financial Group Stock Up 5.6%

TOP stock opened at $2.26 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $1.56 and a 200-day moving average price of $1.15. TOP Financial Group has a 52-week low of $0.61 and a 52-week high of $3.33.

TOP Financial Group (NASDAQ:TOP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 7th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $0.73 million during the quarter.

Hedge Funds Weigh In On TOP Financial Group

A number of hedge funds have recently added to or reduced their stakes in TOP. Virtu Financial LLC bought a new stake in shares of TOP Financial Group in the 3rd quarter worth $42,000. Susquehanna International Group LLP raised its position in TOP Financial Group by 42.0% in the 3rd quarter. Susquehanna International Group LLP now owns 51,793 shares of the company's stock worth $67,000 after buying an additional 15,330 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in TOP Financial Group during the 4th quarter valued at about $35,000. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TOP. Weiss Ratings upgraded shares of TOP Financial Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 16th. Wall Street Zen upgraded TOP Financial Group to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

TOP Financial Group Company Profile

TOP Financial Group Limited, through its subsidiaries, operates as an online brokerage company in Hong Kong. It is involved in the trading of local and overseas equities, futures, and options products; and the provision of brokerage and value-added services, including trade order placement and execution, account management, and customer support services. The company provides a range of futures products, such as index futures, forex futures, agricultural product futures, energy futures, and precious metal futures.

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.