Short Interest in Xiaomi Co. (OTCMKTS:XIACF) Decreases By 38.7%

Xiaomi Co. (OTCMKTS:XIACF) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 111,513,914 shares, a decline of 38.7% from the June 30th total of 182,020,228 shares. Based on an average daily volume of 81,100 shares, the short-interest ratio is presently 1,375.0 days.

Xiaomi Stock Performance

Shares of XIACF traded down $0.31 during trading hours on Friday, hitting $3.69. 43,675 shares of the company were exchanged, compared to its average volume of 74,000. Xiaomi has a fifty-two week low of $2.52 and a fifty-two week high of $7.86. The firm’s fifty day moving average is $3.35 and its 200 day moving average is $3.97.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of Xiaomi from a “hold” rating to an “underperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Xiaomi Company Profile

Xiaomi Corporation, founded in April 2010 by entrepreneur Lei Jun and a group of partners, is a Chinese multinational electronics company headquartered in Beijing. The company began with the launch of its proprietary MIUI operating system and quickly expanded into hardware design and manufacturing. Over the past decade, Xiaomi has established itself as one of the world’s leading smartphone vendors, focusing on delivering high-performance devices at competitive price points.

In addition to its core smartphone business, Xiaomi operates two main hardware sub-brands: Mi and Redmi.