MICT, Inc. (NASDAQ:MICT) Short Interest Down 11.8% in August

MICT, Inc. (NASDAQ:MICTGet Rating) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,850,000 shares, a decline of 11.8% from the August 15th total of 3,230,000 shares. Based on an average trading volume of 316,700 shares, the days-to-cover ratio is currently 9.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in MICT in the second quarter valued at about $28,000. Quilter Plc acquired a new position in MICT in the fourth quarter valued at about $35,000. Renaissance Technologies LLC raised its stake in MICT by 424.0% in the second quarter. Renaissance Technologies LLC now owns 177,121 shares of the company’s stock valued at $101,000 after purchasing an additional 143,321 shares in the last quarter. Bison Wealth LLC raised its stake in MICT by 10.2% in the first quarter. Bison Wealth LLC now owns 183,800 shares of the company’s stock valued at $112,000 after purchasing an additional 17,044 shares in the last quarter. Finally, State Street Corp raised its stake in MICT by 8.4% in the first quarter. State Street Corp now owns 355,018 shares of the company’s stock valued at $217,000 after purchasing an additional 27,506 shares in the last quarter. Institutional investors and hedge funds own 7.39% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of MICT to a “sell” rating in a research report on Tuesday, July 26th.

MICT Price Performance

Shares of MICT stock opened at $0.79 on Tuesday. The firm has a 50-day moving average of $0.72 and a 200-day moving average of $0.66. MICT has a 52-week low of $0.41 and a 52-week high of $1.74.

MICT (NASDAQ:MICTGet Rating) last posted its quarterly earnings results on Friday, June 17th. The company reported ($0.06) EPS for the quarter. The company had revenue of $15.89 million during the quarter. MICT had a negative net margin of 65.44% and a negative return on equity of 24.95%.

MICT Company Profile

(Get Rating)

MICT, Inc, through its subsidiaries, engages in the financial technology and insurance business in China, Singapore, and Hong Kong. It primarily develops platforms for insurance products, and financial products and services. The company also deals in securities, futures, and options; and provides securities advisory and asset management services, as well as the Magpie Invest app that allows to trade in securities on various stock exchanges.

Further Reading

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