Scienture Holdings, Inc. (NASDAQ:SCNX) Sees Significant Growth in Short Interest

Scienture Holdings, Inc. (NASDAQ:SCNX) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 2,993,473 shares, an increase of 114.8% from the February 26th total of 1,393,320 shares. Currently, 9.4% of the company’s stock are sold short. Based on an average daily volume of 15,312,289 shares, the days-to-cover ratio is currently 0.2 days.

Scienture Stock Down 1.7%

Shares of NASDAQ:SCNX traded down $0.01 during trading on Thursday, hitting $0.45. 155,661 shares of the company traded hands, compared to its average volume of 3,423,315. The business’s fifty day moving average is $0.45 and its 200-day moving average is $0.62. The stock has a market capitalization of $18.32 million, a price-to-earnings ratio of -0.46 and a beta of 3.01. Scienture has a one year low of $0.37 and a one year high of $2.60.

Hedge Funds Weigh In On Scienture

A hedge fund recently raised its stake in Scienture stock. Geode Capital Management LLC boosted its holdings in Scienture Holdings, Inc. (NASDAQ:SCNX) by 264.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,201 shares of the company’s stock after acquiring an additional 229,398 shares during the quarter. Geode Capital Management LLC owned 0.78% of Scienture worth $161,000 at the end of the most recent quarter. 5.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on SCNX. Maxim Group began coverage on Scienture in a report on Tuesday, February 24th. They issued a “buy” rating and a $1.50 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scienture in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Scienture to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Scienture currently has an average rating of “Hold” and a consensus target price of $1.50.

Scienture Company Profile

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.