Short Interest in Simpple Ltd. (NASDAQ:SPPL) Declines By 71.2%

Simpple Ltd. (NASDAQ:SPPL) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 6,352 shares, a drop of 71.2% from the August 15th total of 22,085 shares. Based on an average trading volume of 133,391 shares, the short-interest ratio is presently 0.0 days. Approximately 0.1% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPPL. Wall Street Zen raised shares of Simpple to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Simpple in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Simpple has a consensus rating of “Sell”.

Simpple Price Performance

NASDAQ:SPPL traded up $0.30 during trading hours on Monday, hitting $2.15. The stock had a trading volume of 67,457 shares, compared to its average volume of 109,793. The business has a 50 day simple moving average of $2.66 and a two-hundred day simple moving average of $2.73. Simpple has a 1-year low of $1.50 and a 1-year high of $7.00. The company has a quick ratio of 0.80, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Simpple

A hedge fund recently bought a new stake in Simpple stock. Squarepoint Ops LLC purchased a new position in shares of Simpple Ltd. (NASDAQ:SPPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,309 shares of the company’s stock, valued at approximately $52,000. Squarepoint Ops LLC owned 0.23% of Simpple at the end of the most recent reporting period. 0.01% of the stock is owned by institutional investors and hedge funds.

About Simpple

Simpple Ltd. provides advanced technology solutions in Singapore. The company engages in the sale, warranty, and maintenance of autonomous robotic cleaning equipment. It also offers SIMPPLE Ecosystem platform includes SIMPPLE Software, a software platform comprising modules related to quality management, workflow management, and people management; SIMPPLE PLUS, which offers complimentary peripherals, such as IoT sensors and robotic solutions that add value to the entire ecosystem that the company distributes, sells, and manages; and SIMPPLE.AI, a next generation facilities management autonomic intelligence engine that automates robotic and human workforce deployments.