Smart Share Global Limited (NYSE:EM) Short Interest Update

Key Points

• Smart Share Global Limited experienced a significant drop in short interest, falling 37.5% from 64,000 shares to 40,000 shares as of September 30th, 2023.
• Institutional investors and hedge funds hold 83.96% of Smart Share Global's stock, with notable acquisitions including Palliser Capital UK Ltd increasing its stake by 23.8% to 7.37 million shares.
• As of recent trading, Smart Share Global's stock price is $1.34, showing an increase of 2.3% with a market capitalization of $339.74 million.

Smart Share Global Limited (NYSE:EM - ) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 40,000 shares, a drop of 37.5% from the September 15th total of 64,000 shares. Based on an average daily volume of 918,100 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company's shares are sold short. Currently, 0.0% of the company's shares are sold short. Based on an average daily volume of 918,100 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Smart Share Global

Several large investors have recently added to or reduced their stakes in EM. XTX Topco Ltd acquired a new position in Smart Share Global in the second quarter valued at about $27,000. Virtu Financial LLC bought a new position in shares of Smart Share Global during the first quarter worth $58,000. MASO CAPITAL PARTNERS Ltd bought a new position in Smart Share Global during the first quarter worth about $2,948,000. Finally, Palliser Capital UK Ltd increased its position in shares of Smart Share Global by 23.8% during the second 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 in the last quarter. Institutional investors and hedge funds own 83.96% of the company's stock.

Smart Share Global Trading Up 2.3%

EM stock traded up $0.03 during midday trading on Wednesday, reaching $1.34. The company had a trading volume of 612,523 shares, compared to its average volume of 584,371. The company has a market capitalization of $339.74 million, a P/E ratio of 44.68 and a beta of 0.69. The company has a 50 day moving average of $1.32 and a two-hundred day moving average of $1.18. Smart Share Global has a 1 year low of $0.59 and a 1 year high of $1.45.

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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