XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) Sees Large Increase in Short Interest

XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 55,181 shares, a growth of 305.3% from the September 15th total of 13,616 shares. Based on an average daily volume of 7,921 shares, the short-interest ratio is currently 7.0 days. Currently, 0.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded XChange TEC.INC. from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

XChange TEC.INC. Trading Down 7.0%

NASDAQ:XHG opened at $2.12 on Tuesday. XChange TEC.INC. has a twelve month low of $0.65 and a twelve month high of $7.23. The company has a fifty day moving average of $2.72 and a 200-day moving average of $1.59.

XChange TEC.INC. Company Profile

XChange TEC.INC (NASDAQ:XHG) is a China-focused financial services and technology company. Through its operating subsidiaries, the company provides insurance-related services, including the distribution and brokerage of insurance products to customers in the People’s Republic of China.

The company’s activities are centered on using technology and digital channels to support the marketing, distribution and servicing of insurance products. Its offerings have included coverage in areas such as property and casualty insurance, life insurance, health insurance and other personal insurance categories, although the precise product mix may change over time.

XChange TEC.INC is organized as a Cayman Islands holding company, with its primary business operations conducted through subsidiaries in China.