SOLAI Limited (NYSE:SLAI) Sees Large Decrease in Short Interest

SOLAI Limited (NYSE:SLAI) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 80,921 shares, a decrease of 83.0% from the June 30th total of 477,149 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 94,558 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in SOLAI stock. Two Sigma Investments LP purchased a new stake in SOLAI Limited (NYSE:SLAI) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 57,904 shares of the company’s stock, valued at approximately $156,000. Two Sigma Investments LP owned approximately 0.35% of SOLAI at the end of the most recent quarter. Hedge funds and other institutional investors own 5.34% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SOLAI in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SOLAI presently has an average rating of “Sell”.

SOLAI Stock Performance

The stock has a 50-day moving average price of $3.86 and a 200-day moving average price of $5.28. SOLAI has a one year low of $2.59 and a one year high of $32.27.

SOLAI (NYSE:SLAI) last posted its quarterly earnings data on Tuesday, May 26th. The company reported ($0.34) earnings per share for the quarter. The business had revenue of $7.92 million for the quarter.

SOLAI Company Profile

BIT Mining Limited operates as a cryptocurrency mining company in the Mainland China, the United States, and Hong Kong. The company operates in two segments: Data Center and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 82.5 megawatts; and purchases and deploys bitcoin mining machines. In addition, it engages in online gaming activities; and provision of technology services. The company was formerly known as 500.com Limited and changed its name to BIT Mining Limited in April 2021.