Jianpu Technology Inc – (NYSE:JT) Sees Significant Increase in Short Interest
Jianpu Technology Inc – (NYSE:JT) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,880,600 shares, an increase of 9.0% from the July 31st total of 1,725,500 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 342,500 shares, the short-interest ratio is currently 5.5 days.
JT has been the subject of a number of research reports. Goldman Sachs Group downgraded shares of Jianpu Technology from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 26th. ValuEngine raised shares of Jianpu Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. UBS Group reissued a “sell” rating on shares of Jianpu Technology in a research note on Wednesday, September 4th. TheStreet downgraded shares of Jianpu Technology from a “c-” rating to a “d+” rating in a research note on Monday, July 22nd. Finally, Zacks Investment Research raised shares of Jianpu Technology from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.75.
Shares of NYSE JT traded down $0.01 on Monday, reaching $3.10. 57,325 shares of the company’s stock traded hands, compared to its average volume of 309,688. Jianpu Technology has a 12 month low of $2.74 and a 12 month high of $7.97. The business’s 50 day simple moving average is $3.40 and its two-hundred day simple moving average is $4.47. The company has a market cap of $517.49 million, a price-to-earnings ratio of -22.14 and a beta of 1.49.
Several hedge funds and other institutional investors have recently made changes to their positions in JT. Yiheng Capital LLC grew its holdings in shares of Jianpu Technology by 10.8% during the second quarter. Yiheng Capital LLC now owns 7,973,107 shares of the company’s stock valued at $29,819,000 after buying an additional 778,396 shares during the last quarter. Morgan Stanley boosted its holdings in Jianpu Technology by 2,872.2% in the second quarter. Morgan Stanley now owns 160,498 shares of the company’s stock worth $600,000 after purchasing an additional 155,098 shares during the last quarter. Vanguard Group Inc. purchased a new stake in Jianpu Technology in the second quarter worth approximately $71,000. BlackRock Inc. boosted its holdings in Jianpu Technology by 800.6% in the second quarter. BlackRock Inc. now owns 492,388 shares of the company’s stock worth $1,841,000 after purchasing an additional 437,712 shares during the last quarter. Finally, Northern Trust Corp purchased a new stake in Jianpu Technology in the second quarter worth approximately $239,000. 17.22% of the stock is owned by institutional investors and hedge funds.
Jianpu Technology Company Profile
Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.
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