Kuaishou Technology (OTCMKTS:KUASF) Stock Short Interest Falls 45.2%

Kuaishou Technology (OTCMKTS:KUASF) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 13,372,124 shares, a decline of 45.2% from the September 30th total of 24,418,954 shares. Based on an average daily trading volume, of 2,636 shares, the days-to-cover ratio is presently 5,072.9 days.

Kuaishou Technology Stock Performance

Shares of KUASF remained flat at $3.19 during trading hours on Friday. The stock had a trading volume of 29,200 shares, compared to its average volume of 2,362. Kuaishou Technology has a 1 year low of $3.19 and a 1 year high of $11.00. The company’s 50-day moving average is $4.15 and its 200 day moving average is $6.22.

Wall Street Analyst Weigh In

A number of brokerages have commented on KUASF. The Goldman Sachs Group cut shares of Kuaishou Technology from a “buy” rating to a “neutral” rating in a research report on Thursday, August 20th. Citigroup cut shares of Kuaishou Technology from a “buy” rating to a “hold” rating in a research note on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

Kuaishou Technology Company Profile

Kuaishou Technology is a Chinese internet company that operates short-video and livestreaming platforms. Its flagship Kuaishou app enables users to create, share and discover videos, participate in livestreams, interact with creators and communities, and communicate through social features. The company also operates the Kwai brand in selected international markets.

Kuaishou generates revenue primarily through online marketing services, livestreaming, and e-commerce. Its platforms allow businesses to promote products and services, while creators and merchants can sell goods through livestreams, short videos and other digital-commerce tools.