Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) Sees Significant Drop in Short Interest

Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) was the target of a significant decline in short interest in October. As of October 30th, there was short interest totaling 16,869 shares, a decline of 91.4% from the October 15th total of 195,736 shares. Based on an average daily trading volume, of 77,912 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.1% of the shares of the stock are sold short.

Hong Kong Pharma Digital Technology Stock Performance

Shares of NASDAQ:HKPD traded up $0.04 during trading on Wednesday, reaching $1.62. The company had a trading volume of 5,349 shares, compared to its average volume of 66,490. The company has a fifty day moving average of $2.22 and a two-hundred day moving average of $8.88. Hong Kong Pharma Digital Technology has a 12 month low of $1.34 and a 12 month high of $29.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.75.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Hong Kong Pharma Digital Technology from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Hong Kong Pharma Digital Technology currently has a consensus rating of “Sell”.

Hong Kong Pharma Digital Technology Company Profile

Hong Kong Pharma is an exempted limited liability company formed under the laws of the Cayman Islands on August 17, 2023. As a holding company with no material operations of its own, Hong Kong Pharma conducts its operations through its wholly owned subsidiaries, Joint Cross Border Logistics Company Limited and V-Alliance Technology Supplies Limited, each a limited liability corporation incorporated in Hong Kong and collectively referred to as HK Subsidiaries. Our business offering consists of two main categories: (i) OTC pharmaceutical cross-border e-commerce supply chain services, primarily conducted through our Hong Kong subsidiary, Joint Cross Border, which we refer to as the “Supply Chain Services” division and (ii) OTC pharmaceutical cross-border procurement and distribution, primarily conducted through our Hong Kong subsidiary, V-Alliance, which we refer to as the “Procurement and Distribution” division.