Treasure Global Inc. (NASDAQ:TGL) Shares Shorted: Short Interest Up 346.7% in October

Treasure Global Inc. (NASDAQ:TGL) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 1,380,310 shares, a growth of 346.7% from the September 30th total of 308,998 shares. Based on an average trading volume of 19,935,013 shares, the days-to-cover ratio is presently 0.1 days. Currently, 28.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Treasure Global in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Treasure Global Trading Down 4.2%

TGL stock traded down $0.01 during midday trading on Thursday, hitting $0.25. The stock had a trading volume of 355,525 shares, compared to its average volume of 2,366,470. Treasure Global has a 52 week low of $0.19 and a 52 week high of $58.00. The stock has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $3.57. The firm has a market capitalization of $1.27 million, a price-to-earnings ratio of -0.02 and a beta of 3.01.

Treasure Global Company Profile

Treasure Global Inc is a technology company focused on e-commerce, digital payments and customer loyalty solutions. The company operates ZCITY, a digital platform designed to connect consumers with merchants through payment services, rewards and lifestyle-related offerings.

Through its platform, Treasure Global provides tools intended to support online transactions, merchant engagement and consumer savings. ZCITY has offered services such as digital payments, loyalty rewards, promotional deals and access to products and services from participating merchants.

Treasure Global is headquartered in Malaysia and has focused primarily on serving consumers and businesses in the Malaysian market.