Smart Share Global Limited (NYSE:EM) Short Interest Up 353.9% in September

Key Points

• Smart Share Global Limited experienced a dramatic short interest increase of 353.9% in September, climbing from 14,100 shares to 64,000 shares.
• Institutional investors own 83.96% of the company's stock, with significant purchases by firms such as Palliser Capital UK Ltd, which increased its stake by 23.8%.
• Citigroup has set a new price target of $1.25 for Smart Share Global, maintaining a "neutral" rating after previously being at $1.00.

Smart Share Global Limited (NYSE:EM - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 64,000 shares, a growth of 353.9% from the August 31st total of 14,100 shares. Based on an average daily trading volume, of 757,300 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 757,300 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Smart Share Global during the 2nd quarter valued at $27,000. Virtu Financial LLC bought a new stake in Smart Share Global during the first quarter valued at $58,000. MASO CAPITAL PARTNERS Ltd purchased a new position in Smart Share Global during the first quarter worth about $2,948,000. Finally, Palliser Capital UK Ltd increased its stake in 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 worth $8,406,000 after acquiring an additional 1,419,335 shares during the last quarter. 83.96% of the stock is owned by institutional investors.

Smart Share Global Stock Performance

Shares of NYSE EM opened at $1.34 on Thursday. Smart Share Global has a fifty-two week low of $0.59 and a fifty-two week high of $1.45. The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.16. The stock has a market cap of $339.74 million, a PE ratio of 44.68 and a beta of 0.69.

Analysts Set New Price Targets

Separately, Citigroup reiterated a "neutral" rating and issued a $1.25 price objective (up previously from $1.00) on shares of Smart Share Global in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1.25.

About Smart Share Global

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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