Zhibao Technology Inc. (NASDAQ:ZBAO) Sees Significant Growth in Short Interest

Zhibao Technology Inc. (NASDAQ:ZBAO) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 650,165 shares, a growth of 537.9% from the September 15th total of 101,927 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 26,907,764 shares, the short-interest ratio is currently 0.0 days.

Zhibao Technology Trading Down 2.0%

Zhibao Technology stock opened at $0.06 on Friday. Zhibao Technology has a 52 week low of $0.04 and a 52 week high of $1.34. The firm’s 50-day simple moving average is $0.15 and its 200 day simple moving average is $0.46.

Shares of Zhibao Technology are going to reverse split on the morning of Monday, October 12th. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, October 11th.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Zhibao Technology in a report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About Zhibao Technology

Zhibao Technology Inc is an insurance technology company based in China. Through its digital platform and related services, the company focuses on insurance brokerage and the distribution of commercial property and casualty insurance products.

Zhibao Technology works with businesses and insurance providers to support the design, placement and servicing of insurance coverage. Its technology-based model is intended to streamline insurance transactions and help commercial customers access insurance products through digital channels.

The company operates primarily in the Chinese insurance market.