Lobo EV Technologies Ltd (NASDAQ:LOBO) Sees Large Decline in Short Interest

Lobo EV Technologies Ltd (NASDAQ:LOBO) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 32,214 shares, a decline of 52.2% from the August 31st total of 67,434 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 50,622 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Lobo EV Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Lobo EV Technologies Stock Down 7.1%

NASDAQ:LOBO traded down $0.04 on Tuesday, reaching $0.54. The company’s stock had a trading volume of 261,664 shares, compared to its average volume of 2,802,589. Lobo EV Technologies has a 1-year low of $0.36 and a 1-year high of $1.48. The business’s 50-day moving average price is $0.64 and its two-hundred day moving average price is $0.64.

Lobo EV Technologies (NASDAQ:LOBO) last released its quarterly earnings data on Saturday, September 19th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $7.29 million during the quarter.

About Lobo EV Technologies

Lobo EV Technologies Limited is an electric-vehicle company focused on the design, development, manufacture and sale of small electric vehicles. Through its operating subsidiaries in China, the company serves the growing market for lightweight and low-speed transportation products.

Lobo EV’s product portfolio includes electric tricycles, electric bicycles, electric scooters and other compact electric vehicles. Its products are intended for applications such as personal transportation, local delivery, cargo hauling and other short-distance mobility needs.