Smart Share Global (NYSE:EM) Shares Up 0.7% - Still a Buy?

Key Points

• Smart Share Global Limited's shares rose by 0.7% to a trading price of $1.36, although the trading volume was down 20% from the average.
• Citigroup has maintained a "neutral" rating with a revised price target of $1.25, reflecting a cautious outlook with a consensus rating of "Hold."
• Institutional ownership has increased, with a significant 83.96% of shares now held by institutional investors following recent stock purchases by firms like Palliser Capital UK Ltd.

Shares of Smart Share Global Limited (NYSE:EM - Get Free Report) shot up 0.7% on Monday . The stock traded as high as $1.36 and last traded at $1.36. 448,830 shares changed hands during trading, a decline of 20% from the average session volume of 560,149 shares. The stock had previously closed at $1.35.

Analyst Upgrades and Downgrades

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

Smart Share Global Stock Up 0.7%

The firm has a market capitalization of $344.82 million, a PE ratio of 45.35 and a beta of 0.69. The stock has a 50-day moving average price of $1.27 and a 200 day moving average price of $1.16.

Institutional Trading of Smart Share Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Palliser Capital UK Ltd increased its position in shares of 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 buying an additional 1,419,335 shares in the last quarter. MASO CAPITAL PARTNERS Ltd increased its position in shares of Smart Share Global by 12.3% in the second quarter. MASO CAPITAL PARTNERS Ltd now owns 2,954,764 shares of the company's stock valued at $3,368,000 after buying an additional 322,504 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Smart Share Global in the first quarter valued at approximately $58,000. Finally, XTX Topco Ltd purchased a new stake in shares of Smart Share Global in the second quarter valued at approximately $27,000. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

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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