Orangekloud Technology Inc. (NASDAQ:ORKT) Short Interest Update

Orangekloud Technology Inc. (NASDAQ:ORKT) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 44,675 shares, a decrease of 38.3% from the May 14th total of 72,355 shares. Based on an average trading volume of 114,346 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s shares are sold short.

Analysts Set New Price Targets

ORKT has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orangekloud Technology in a research note on Tuesday, May 26th. Maxim Group lowered Orangekloud Technology from a “buy” rating to a “hold” rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Orangekloud Technology

A hedge fund recently bought a new stake in Orangekloud Technology stock. Citadel Advisors LLC purchased a new position in Orangekloud Technology Inc. (NASDAQ:ORKT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,601 shares of the company’s stock, valued at approximately $34,000. Citadel Advisors LLC owned approximately 0.28% of Orangekloud Technology at the end of the most recent reporting period.

Orangekloud Technology Stock Performance

NASDAQ:ORKT opened at $1.32 on Monday. Orangekloud Technology has a 1-year low of $0.62 and a 1-year high of $3.55. The business’s 50-day moving average price is $1.09 and its two-hundred day moving average price is $1.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.43 and a quick ratio of 2.43.

About Orangekloud Technology

Orangekloud Technology, Inc is a holding company, which engages in providing information technology consulting services. Its digital transformation projects include the sales and consulting of Microsoft Dynamics ERP software licenses. It operates through the Packaged Software Solutions, and No-Code Platform and Mobile Application segments. The Packaged Software Solutions segment refers to packaged software and custom software solutions. The No-Code Platform and Mobile Application focuses on providing a rapid development environment through a No-Code platform.