LZ Technology Holdings Limited (NASDAQ:LZMH) Short Interest Down 94.7% in May

LZ Technology Holdings Limited (NASDAQ:LZMH) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 42,920 shares, a decline of 94.7% from the May 14th total of 806,823 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 177,014 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on LZMH. Weiss Ratings upgraded shares of LZ Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of LZ Technology to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On LZ Technology

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in shares of LZ Technology during the 2nd quarter valued at approximately $51,000. PharVision Advisers LLC acquired a new position in LZ Technology in the 3rd quarter valued at $58,000. Finally, Jane Street Group LLC acquired a new position in LZ Technology in the 4th quarter valued at $33,000.

LZ Technology Stock Performance

Shares of LZMH traded up $0.02 during mid-day trading on Wednesday, hitting $1.51. 124,501 shares of the company traded hands, compared to its average volume of 360,703. LZ Technology has a 1-year low of $1.03 and a 1-year high of $543.33. The business has a 50 day moving average of $8.92 and a 200 day moving average of $22.93.

LZ Technology (NASDAQ:LZMH) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($1.20) earnings per share (EPS) for the quarter. The firm had revenue of $51.80 million for the quarter.

LZ Technology Company Profile

As a holding company with no material operations of its own, LZ Technology conducts its operations through its operating entities formed in the PRC, primarily Lianzhang Portal and its subsidiaries. For the years ended December 31, 2022 and 2023, the Company had a total of 247 and 255 customers, respectively, who entered into contracts with the Company to purchase the Company’s products and services. For the six months ended June 30, 2024 and 2023, the Company had a total of 168 and 102 customers, respectively, who entered into contracts with the Company to purchase the Company’s products and services.