Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) Sees Large Decline in Short Interest

Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 19,564 shares, a decline of 41.1% from the May 31st total of 33,199 shares. Based on an average daily volume of 99,334 shares, the days-to-cover ratio is currently 0.2 days. Approximately 15.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Trident Digital Tech from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Trident Digital Tech has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TDTH. Renaissance Technologies LLC raised its stake in Trident Digital Tech by 547.5% during the first quarter. Renaissance Technologies LLC now owns 424,000 shares of the company’s stock worth $81,000 after acquiring an additional 358,513 shares in the last quarter. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Trident Digital Tech in the 4th quarter valued at $59,000. Finally, XTX Topco Ltd boosted its stake in shares of Trident Digital Tech by 397.6% in the 4th quarter. XTX Topco Ltd now owns 96,217 shares of the company’s stock valued at $29,000 after purchasing an additional 76,879 shares in the last quarter.

Trident Digital Tech Price Performance

NASDAQ TDTH traded down $0.05 on Thursday, reaching $1.57. The company’s stock had a trading volume of 25,485 shares, compared to its average volume of 86,619. Trident Digital Tech has a twelve month low of $1.27 and a twelve month high of $80.40. The firm’s 50 day moving average is $2.05 and its two-hundred day moving average is $6.02.

Trident Digital Tech (NASDAQ:TDTH) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($3.52) EPS for the quarter. The business had revenue of $0.06 million during the quarter.

Trident Digital Tech Company Profile

Trident Digital Tech Holdings Ltd. engages in the provision of business consulting services and information technology customization solutions. Its products include Tridentity, TriVerse, TriEvents, and TriFood. The company was founded by Soon Huat Lim in 2014 and is headquartered in Singapore.