Graphjet Technology (NASDAQ:GTI) Short Interest Up 44.9% in October

Graphjet Technology (NASDAQ:GTI) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 276,600 shares, a growth of 44.9% from the September 30th total of 190,900 shares. Based on an average daily volume of 299,500 shares, the days-to-cover ratio is presently 0.9 days. Currently, 27.1% of the company’s stock are sold short. Currently, 27.1% of the company’s stock are sold short. Based on an average daily volume of 299,500 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Graphjet Technology in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Graphjet Technology currently has an average rating of “Sell”.

Graphjet Technology Stock Down 4.1%

Shares of NASDAQ:GTI traded down $0.17 on Tuesday, reaching $3.94. 26,073 shares of the company’s stock were exchanged, compared to its average volume of 293,453. Graphjet Technology has a twelve month low of $3.09 and a twelve month high of $227.40. The firm has a market cap of $12.65 million, a PE ratio of -1.84 and a beta of 0.50.

Graphjet Technology (NASDAQ:GTI) last issued its quarterly earnings data on Friday, September 5th. The company reported ($0.94) EPS for the quarter. The company had revenue of $0.05 million for the quarter.

Graphjet Technology Company Profile

Graphjet Technology is a developer of patented technologies to produce graphite and graphene directly from agricultural waste. Graphjet Technology, formerly known as Energem Corp., is based in KUALA LUMPUR, Malaysia.