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

Key Points

• Short interest in Smart Share Global Limited decreased by 20.8% in August, with total short interest dropping to 14,100 shares.
• Citigroup has reissued a "neutral" rating for the stock, raising the price target from $1.00 to $1.25, with a consensus rating of "Hold".
• Institutional investors continue to show interest, with 83.96% of the stock owned by institutional investors and hedge funds, including a 23.8% increase in stake from Palliser Capital UK Ltd in the second quarter.

Smart Share Global Limited (NYSE:EM - Get Free Report) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 14,100 shares, a drop of 20.8% from the August 15th total of 17,800 shares. Based on an average daily trading volume, of 719,700 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's shares are sold short. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 719,700 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EM. MASO CAPITAL PARTNERS Ltd bought a new stake in shares of Smart Share Global in the 1st quarter valued at approximately $2,948,000. Palliser Capital UK Ltd grew its stake in shares of Smart Share Global by 23.8% in the 2nd quarter. Palliser Capital UK Ltd now owns 7,373,915 shares of the company's stock valued at $8,406,000 after purchasing an additional 1,419,335 shares during the period. Virtu Financial LLC bought a new stake in shares of Smart Share Global in the 1st quarter valued at approximately $58,000. Finally, XTX Topco Ltd bought a new stake in Smart Share Global during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 83.96% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup restated a "neutral" rating and set a $1.25 price objective (up from $1.00) on shares of Smart Share Global in a research report on Wednesday, June 18th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $1.25.

Smart Share Global Stock Up 0.7%

Shares of EM traded up $0.01 during mid-day trading on Monday, hitting $1.36. The stock had a trading volume of 276,677 shares, compared to its average volume of 562,702. The company has a market cap of $344.82 million, a PE ratio of 45.35 and a beta of 0.69. Smart Share Global has a fifty-two week low of $0.50 and a fifty-two week high of $1.45. The company's fifty day simple moving average is $1.24 and its two-hundred day simple moving average is $1.15.

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.