Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) Sees Significant Drop in Short Interest

Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 199,260 shares, a decrease of 46.8% from the August 15th total of 374,802 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 109,753 shares, the short-interest ratio is currently 1.8 days.

Hong Kong Pharma Digital Technology Trading Down 9.3%

Shares of NASDAQ:HKPD traded down $0.01 on Tuesday, hitting $0.11. The company’s stock had a trading volume of 1,693,132 shares, compared to its average volume of 1,360,827. The company has a current ratio of 3.86, a quick ratio of 3.75 and a debt-to-equity ratio of 0.01. Hong Kong Pharma Digital Technology has a 12 month low of $0.10 and a 12 month high of $1.82. The stock’s 50-day moving average is $0.35 and its two-hundred day moving average is $0.49.

Hong Kong Pharma Digital Technology (NASDAQ:HKPD) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $3.15 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Hong Kong Pharma Digital Technology from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hong Kong Pharma Digital Technology presently has a consensus rating of “Sell”.

About Hong Kong Pharma Digital Technology

Hong Kong Pharma is an exempted limited liability company formed under the laws of the Cayman Islands on August 17, 2023. As a holding company with no material operations of its own, Hong Kong Pharma conducts its operations through its wholly owned subsidiaries, Joint Cross Border Logistics Company Limited and V-Alliance Technology Supplies Limited, each a limited liability corporation incorporated in Hong Kong and collectively referred to as HK Subsidiaries. Our business offering consists of two main categories: (i) OTC pharmaceutical cross-border e-commerce supply chain services, primarily conducted through our Hong Kong subsidiary, Joint Cross Border, which we refer to as the “Supply Chain Services” division and (ii) OTC pharmaceutical cross-border procurement and distribution, primarily conducted through our Hong Kong subsidiary, V-Alliance, which we refer to as the “Procurement and Distribution” division.