Everbright Digital Holding Limited (NASDAQ:EDHL) Sees Significant Decrease in Short Interest

Everbright Digital Holding Limited (NASDAQ:EDHL) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 20,836 shares, a drop of 86.5% from the June 15th total of 154,892 shares. Based on an average daily volume of 52,715 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Everbright Digital

A hedge fund recently bought a new stake in Everbright Digital stock. Citadel Advisors LLC bought a new position in shares of Everbright Digital Holding Limited (NASDAQ:EDHL) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 44,828 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned 0.17% of Everbright Digital as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Everbright Digital from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Everbright Digital Trading Down 5.5%

Shares of EDHL stock traded down $0.26 on Friday, reaching $4.43. 43,390 shares of the stock were exchanged, compared to its average volume of 899,300. The firm has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.71. Everbright Digital has a 1-year low of $2.00 and a 1-year high of $100.64.

Everbright Digital (NASDAQ:EDHL) last issued its earnings results on Monday, May 4th. The company reported ($0.44) earnings per share for the quarter. The company had revenue of $0.58 million during the quarter.

Everbright Digital Company Profile

Everbright Digital Holdings Co, Ltd. is a Cayman Islands holding company that, through its subsidiaries, delivers digital operation services and interactive solutions to cultural tourism, sports and small and medium-sized enterprises in the People’s Republic of China. The company specializes in digital marketing, content distribution and technology-driven platforms designed to enhance customer engagement and streamline operational workflows. Its portfolio includes digital interactive applications, intelligent library systems and tools for digital event management.

Since its founding in 2018, Everbright Digital has partnered with government agencies, cultural venues and commercial enterprises across more than 20 provinces.