XCHG Limited (NASDAQ:XCH) Sees Large Increase in Short Interest

XCHG Limited (NASDAQ:XCH) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 29,959 shares, a growth of 212.7% from the September 30th total of 9,580 shares. Based on an average daily volume of 214,232 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XCHG in a research report on Friday, October 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, XCHG presently has an average rating of “Reduce”.

XCHG Trading Up 41.8%

Shares of NASDAQ XCH opened at $3.46 on Friday. The firm has a 50 day moving average of $3.08 and a 200 day moving average of $5,245.57. The firm has a market capitalization of $14.12 million, a price-to-earnings ratio of -2.16 and a beta of -1.22. XCHG has a 12-month low of $1.26 and a 12-month high of $35.80.

XCHG (NASDAQ:XCH) last issued its quarterly earnings results on Saturday, September 19th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $5.14 million during the quarter. Sell-side analysts predict that XCHG will post -2.63 EPS for the current year.

About XCHG

XCHG Limited is an electric vehicle charging technology company that develops and provides charging infrastructure and related software solutions. Its offerings are designed to support electric vehicle charging operators, commercial fleets, automakers, businesses and other customers seeking to deploy and manage charging networks.

The company’s products and services include direct-current fast-charging equipment, charging management software, energy management capabilities and related operational and maintenance services.