Short Interest in Davis Commodities Limited (NASDAQ:DTCK) Declines By 41.5%

Davis Commodities Limited (NASDAQ:DTCK) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 33,690 shares, a drop of 41.5% from the January 29th total of 57,556 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 404,314 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 404,314 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are sold short.

Davis Commodities Price Performance

Shares of DTCK traded down $0.01 during trading hours on Monday, reaching $0.09. The stock had a trading volume of 852,741 shares, compared to its average volume of 2,734,590. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. Davis Commodities has a 12 month low of $0.09 and a 12 month high of $6.89. The company’s 50-day moving average is $4.55 and its two-hundred day moving average is $14.31.

Davis Commodities (NASDAQ:DTCK) last issued its earnings results on Tuesday, December 23rd. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $47.52 million during the quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on DTCK. Wall Street Zen downgraded Davis Commodities to a “strong sell” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Davis Commodities in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Davis Commodities

A hedge fund recently bought a new stake in Davis Commodities stock. HRT Financial LP bought a new position in shares of Davis Commodities Limited (NASDAQ:DTCK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 121,341 shares of the company’s stock, valued at approximately $36,000. HRT Financial LP owned about 0.44% of Davis Commodities at the end of the most recent reporting period. Hedge funds and other institutional investors own 81.83% of the company’s stock.

About Davis Commodities

Davis Commodities, Inc is a merchant and supply chain management company specializing in agricultural commodities. Through its subsidiaries, the company sources, trades, and distributes products such as grains, oilseeds, coffee, sugar and related derivatives. Davis offers end-to-end solutions that include risk management, financing, quality control and logistics services to a diverse base of growers, processors and food manufacturers.

Founded in 2019, Davis Commodities completed its initial public offering on the Nasdaq under the ticker DTCK in 2020.