XCHG Limited (NASDAQ:XCH) Sees Significant Drop in Short Interest

XCHG Limited (NASDAQ:XCH) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 65,678 shares, a drop of 54.4% from the July 15th total of 144,160 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 42,110 shares, the days-to-cover ratio is presently 1.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XCHG in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

XCHG Trading Down 4.2%

NASDAQ:XCH opened at $0.26 on Friday. The company has a market cap of $20.81 million, a P/E ratio of -3.19 and a beta of -1.02. XCHG has a twelve month low of $0.23 and a twelve month high of $2.50. The company’s 50-day moving average price is $234.12 and its 200-day moving average price is $350.06.

XCHG’s stock is scheduled to reverse split on the morning of Friday, August 21st. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, August 20th.

About XCHG

XCHG Limited, branded as XCharge, is a company whose subsidiaries design, manufacture, and sell electric vehicle (EV) charging solutions under the X-Charge name in Europe, China, the United States, and other international markets. The company focuses on DC fast-charging infrastructure, including its C6 and C7 series chargers and Net Zero battery-integrated fast-charging systems, and also provides related software upgrades and hardware maintenance services for EV manufacturers, energy companies, and charge point operators.