Short Interest in Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) Declines By 46.8%

Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 199,260 shares, a drop of 46.8% from the August 15th total of 374,802 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 109,753 shares, the days-to-cover ratio is currently 1.8 days.

Hong Kong Pharma Digital Technology Stock Performance

Shares of HKPD stock traded up $0.01 during trading hours on Wednesday, hitting $0.12. The company’s stock had a trading volume of 17,045,979 shares, compared to its average volume of 9,150,598. Hong Kong Pharma Digital Technology has a 12-month low of $0.10 and a 12-month high of $1.82. The company has a 50 day moving average of $0.34 and a 200 day moving average of $0.48. The company has a quick ratio of 3.75, a current ratio of 3.86 and a debt-to-equity ratio of 0.01.

Hong Kong Pharma Digital Technology (NASDAQ:HKPD) last posted its earnings results on Friday, August 7th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $3.15 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Hong Kong Pharma Digital Technology from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Hong Kong Pharma Digital Technology

Hong Kong Pharma is an exempted limited liability company formed under the laws of the Cayman Islands on August 17, 2023. As a holding company with no material operations of its own, Hong Kong Pharma conducts its operations through its wholly owned subsidiaries, Joint Cross Border Logistics Company Limited and V-Alliance Technology Supplies Limited, each a limited liability corporation incorporated in Hong Kong and collectively referred to as HK Subsidiaries. Our business offering consists of two main categories: (i) OTC pharmaceutical cross-border e-commerce supply chain services, primarily conducted through our Hong Kong subsidiary, Joint Cross Border, which we refer to as the “Supply Chain Services” division and (ii) OTC pharmaceutical cross-border procurement and distribution, primarily conducted through our Hong Kong subsidiary, V-Alliance, which we refer to as the “Procurement and Distribution” division.