Smart Share Global Limited (NYSE:EM) Sees Significant Decline in Short Interest

Key Points

• Smart Share Global Limited experienced a significant drop in short interest, with a 53.6% decrease from July 15th to July 31st, leaving only 33,700 shares sold short.
• Citigroup upgraded its target price for Smart Share Global shares from $1.00 to $1.25 while maintaining a "neutral" rating.
• The stock's trading volume on Friday was 1,011,665 shares, notably higher than its average volume of 398,336, with the current price reflecting stability around $1.17.

Smart Share Global Limited (NYSE:EM - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 33,700 shares, adeclineof53.6% from the July 15th total of 72,700 shares. Currently,0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 128,600 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 128,600 shares, the days-to-cover ratio is currently 0.3 days. Currently,0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Citigroup restated a "neutral" rating and set a $1.25 target price (up previously from $1.00) on shares of Smart Share Global in a research report on Wednesday, June 18th.

Smart Share Global Price Performance

Shares of NYSE EM remained flat at $1.17 during trading hours on Friday. The stock had a trading volume of 1,011,665 shares, compared to its average volume of 398,336. The firm's fifty day moving average price is $1.14 and its 200 day moving average price is $1.12. Smart Share Global has a 12 month low of $0.50 and a 12 month high of $1.19. The stock has a market capitalization of $296.64 million, a PE ratio of 39.01 and a beta of 0.67.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EM. XTX Topco Ltd bought a new position in Smart Share Global in the second quarter valued at about $27,000. Virtu Financial LLC bought a new position in Smart Share Global in the first quarter valued at about $58,000. MASO CAPITAL PARTNERS Ltd bought a new position in Smart Share Global in the first quarter valued at about $2,948,000. Finally, Palliser Capital UK Ltd grew its position in Smart Share Global by 23.8% in the second quarter. Palliser Capital UK Ltd now owns 7,373,915 shares of the company's stock valued at $8,406,000 after acquiring an additional 1,419,335 shares during the last quarter. Institutional investors own 83.96% of the company's stock.

Smart Share Global Company Profile

Smart Share Global Limited, a consumer tech company, provides mobile device charging services in the People's Republic of China. The company provides mobile device charging services through online and offline networks; and rents power banks. It offers services through its power banks placed in points of interests (POIs) operated by its location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces.

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