Skyline Builders Group Holding Limited (NASDAQ:SKBL) Sees Large Decline in Short Interest

Key Points

• Skyline Builders Group experienced a significant decline in short interest, dropping by 40.5% to 607,200 shares by September 30th.
• Weiss Ratings has restated a "sell" rating for the company, indicating a consensus rating of "Sell" among analysts.
• Several institutional investors, including Quadrature Capital Ltd and BNP Paribas Financial Markets, have recently acquired stakes in Skyline Builders Group during the second quarter.

Skyline Builders Group Holding Limited (NASDAQ:SKBL - Get Free Report) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 607,200 shares, a drop of 40.5% from the September 15th total of 1,020,000 shares. Based on an average daily volume of 3,370,000 shares, the short-interest ratio is presently 0.2 days. Approximately 6.9% of the shares of the stock are sold short. Approximately 6.9% of the shares of the stock are sold short. Based on an average daily volume of 3,370,000 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Skyline Builders Group in a research report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Skyline Builders Group presently has a consensus rating of "Sell".

Hedge Funds Weigh In On Skyline Builders Group

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

Skyline Builders Group Stock Performance

Shares of Skyline Builders Group stock traded down $0.11 on Tuesday, hitting $2.86. The company had a trading volume of 151,100 shares, compared to its average volume of 1,848,024. The stock has a 50 day moving average of $2.08 and a 200-day moving average of $6.43. Skyline Builders Group has a 1 year low of $0.42 and a 1 year 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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