Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) Sees Large Increase in Short Interest

Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 4,013,156 shares, an increase of 131.9% from the February 12th total of 1,730,371 shares. Currently, 8.9% of the company’s shares are short sold. Based on an average daily trading volume, of 62,834,684 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 62,834,684 shares, the short-interest ratio is currently 0.1 days. Currently, 8.9% of the company’s shares are short sold.

Tian Ruixiang Price Performance

TIRX stock remained flat at $0.03 during trading on Friday. Tian Ruixiang has a one year low of $0.02 and a one year high of $10.75. The firm has a 50 day simple moving average of $0.24 and a 200-day simple moving average of $1.01.

Tian Ruixiang’s stock is going to reverse split on Monday, March 16th. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 15th.

Hedge Funds Weigh In On Tian Ruixiang

A hedge fund recently bought a new stake in Tian Ruixiang stock. Sabby Management LLC acquired a new stake in Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 624,551 shares of the company’s stock, valued at approximately $226,000. Tian Ruixiang comprises 0.3% of Sabby Management LLC’s holdings, making the stock its 15th largest position. Sabby Management LLC owned 2.56% of Tian Ruixiang as of its most recent filing with the SEC. Hedge funds and other institutional investors own 10.66% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings began coverage on Tian Ruixiang in a report on Friday, December 26th. They set a “sell (e-)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Tian Ruixiang presently has a consensus rating of “Sell”.

About Tian Ruixiang

Tian Ruixiang Holdings Ltd, together its subsidiaries, operates as an insurance broker in China and the United States. It distributes a range of insurance products, including property and casualty insurance, such as automobile, commercial property, liability, and accidental insurance; and life insurance comprising individual and group life insurances, as well as health and miscellaneous insurance. It serves individual or institutional customers. The company was founded in 2010 and is headquartered in Beijing, China.