SAIHEAT Limited (NASDAQ:SAIH) Shares Shorted: Short Interest Down 46.4% in October

SAIHEAT Limited (NASDAQ:SAIH) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 2,543 shares, a drop of 46.4% from the September 30th total of 4,745 shares. Based on an average trading volume of 17,785 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

SAIH has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SAIHEAT in a report on Friday, August 21st. Wall Street Zen raised shares of SAIHEAT to a “sell” rating in a research note on Saturday, October 3rd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

SAIHEAT Stock Performance

Shares of NASDAQ SAIH traded down $2.04 during mid-day trading on Friday, reaching $25.26. 31,959 shares of the company were exchanged, compared to its average volume of 20,290. SAIHEAT has a 52 week low of $5.90 and a 52 week high of $33.00. The company’s 50 day moving average price is $26.37 and its 200 day moving average price is $14.92.

Institutional Investors Weigh In On SAIHEAT

A hedge fund recently bought a new position in SAIHEAT stock. Sowell Financial Services LLC purchased a new position in shares of SAIHEAT Limited (NASDAQ:SAIH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,226 shares of the company’s stock, valued at approximately $463,000. Sowell Financial Services LLC owned about 0.89% of SAIHEAT as of its most recent SEC filing. 0.16% of the stock is owned by hedge funds and other institutional investors.

SAIHEAT Company Profile

SAIHEAT Limited is a clean-energy technology company focused on thermal energy storage and heat-management solutions. Its products and services are designed to help commercial and industrial customers store and use thermal energy more efficiently, potentially supporting energy conservation and the integration of renewable power.

Publicly available information about SAIHEAT Limited’s operating history, geographic markets and leadership is limited.