SAGTEC GLOBAL Ltd (NASDAQ:SAGT) Sees Significant Increase in Short Interest

SAGTEC GLOBAL Ltd (NASDAQ:SAGT) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 257,545 shares, an increase of 256.8% from the October 15th total of 72,184 shares. Based on an average daily trading volume, of 2,226,869 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On SAGTEC GLOBAL

A hedge fund recently bought a new position in SAGTEC GLOBAL stock. StoneX Group Inc. acquired a new position in SAGTEC GLOBAL Ltd (NASDAQ:SAGT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 42,702 shares of the company’s stock, valued at approximately $27,000. StoneX Group Inc. owned 0.21% of SAGTEC GLOBAL at the end of the most recent quarter.

SAGTEC GLOBAL Trading Down 1.0%

Shares of NASDAQ SAGT traded down $0.01 during trading hours on Friday, reaching $1.02. 45,718 shares of the stock traded hands, compared to its average volume of 1,353,978. SAGTEC GLOBAL has a 52-week low of $0.38 and a 52-week high of $3.39. The business’s 50-day moving average is $0.64.

SAGTEC GLOBAL (NASDAQ:SAGT) last posted its quarterly earnings results on Wednesday, September 16th. The company reported $0.03 EPS for the quarter. The business had revenue of $5.94 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of SAGTEC GLOBAL in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, SAGTEC GLOBAL presently has an average rating of “Sell”.

About SAGTEC GLOBAL

Our business was originally incorporated in Malaysia in 2018, and is principally involved in the provision of customizable software solutions encompassing several types of software such as a smart ordering system, Speed +, which is a smart solutions application software for the food and beverage industry. The Speed+ software is installed onto our existing Point of Sale (POS) machines, which are sourced from third-party suppliers. These POS machines, equipped with Speed+, are then leased to clients, providing a seamless and integrated solution for efficient order management and transaction processing.