Short Interest in Luokung Technology Corp. (NASDAQ:LKCO) Declines By 30.7%

Luokung Technology Corp. (NASDAQ:LKCO) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 41,900 shares, a decrease of 30.7% from the January 31st total of 60,500 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 71,900 shares, the days-to-cover ratio is currently 0.6 days.

Luokung Technology Stock Performance

Luokung Technology stock traded up $0.04 during mid-day trading on Wednesday, reaching $1.64. The stock had a trading volume of 2,190 shares, compared to its average volume of 25,971. Luokung Technology has a one year low of $1.43 and a one year high of $7.68. The company has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $2.40.

Hedge Funds Weigh In On Luokung Technology

A hedge fund recently bought a new stake in Luokung Technology stock. Citadel Advisors LLC acquired a new stake in shares of Luokung Technology Corp. (NASDAQ:LKCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,691 shares of the company’s stock, valued at approximately $69,000. Citadel Advisors LLC owned 0.55% of Luokung Technology as of its most recent SEC filing. 14.62% of the stock is owned by hedge funds and other institutional investors.

About Luokung Technology

Luokung Technology Corp., together with its subsidiaries, engages in the provision of location-based services and mobile application products for long distance rail travelers in the People’s Republic of China. It offers Luokuang mobile application, which provides business to customer (B2C) location-based services; and SuperEngine that offers business to business (B2B) and business to government (B2G) services in connection with spatial-temporal big data processing.