Sui Group Holdings Limited (NASDAQ:SUIG) Sees Significant Decline in Short Interest

Sui Group Holdings Limited (NASDAQ:SUIG) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 515,870 shares, a drop of 36.1% from the September 30th total of 807,669 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 780,996 shares, the days-to-cover ratio is currently 0.7 days.

Sui Group Stock Up 6.8%

Shares of NASDAQ SUIG traded up $0.07 during trading on Tuesday, reaching $1.10. 145,134 shares of the stock were exchanged, compared to its average volume of 545,401. The company has a market capitalization of $84.48 million, a price-to-earnings ratio of -3.67 and a beta of 1.19. The business’s 50-day moving average price is $1.24 and its 200 day moving average price is $1.27. Sui Group has a twelve month low of $0.79 and a twelve month high of $2.84.

Sui Group (NASDAQ:SUIG) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11). Sui Group had a negative net margin of 11,371.76% and a negative return on equity of 130.66%. The firm had revenue of $0.36 million for the quarter. As a group, sell-side analysts expect that Sui Group will post -0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on SUIG. Cantor Fitzgerald increased their target price on shares of Sui Group from $1.70 to $3.40 and gave the stock an “overweight” rating in a research report on Thursday, September 10th. Alliance Global Partners reaffirmed a “buy” rating on shares of Sui Group in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sui Group in a research note on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.40.

About Sui Group

Sui Group Holdings Limited, formerly known as Mill City Ventures III, Ltd., is a digital asset treasury and investment company focused on the Sui blockchain ecosystem. The company’s strategy centers on acquiring and holding SUI, the native digital asset of the Sui network, as well as supporting opportunities connected to the broader ecosystem.

Sui is a Layer 1 blockchain designed to support decentralized applications, digital assets and other blockchain-based services. Through its treasury strategy, Sui Group seeks to provide investors with publicly traded exposure to SUI and may pursue investments or partnerships involving projects, infrastructure and businesses that use or contribute to the Sui network.

The company trades on the Nasdaq Capital Market under the symbol SUIG.