Short Interest in Borqs Technologies Inc (NASDAQ:BRQS) Declines By 20.1%

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Borqs Technologies Inc (NASDAQ:BRQS) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 12,700 shares, a decrease of 20.1% from the April 15th total of 15,900 shares. Based on an average trading volume of 2,500 shares, the days-to-cover ratio is presently 5.1 days. Approximately 0.1% of the company’s stock are short sold.

Shares of NASDAQ BRQS remained flat at $$3.00 during trading on Wednesday. 399 shares of the stock traded hands, compared to its average volume of 5,008. Borqs Technologies has a 12-month low of $2.11 and a 12-month high of $11.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.38 and a quick ratio of 1.20.

A hedge fund recently raised its stake in Borqs Technologies stock. Intel Corp increased its stake in Borqs Technologies Inc (NASDAQ:BRQS) by 5.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,016,696 shares of the company’s stock after buying an additional 217,524 shares during the quarter. Borqs Technologies accounts for approximately 5.8% of Intel Corp’s portfolio, making the stock its 3rd largest holding. Intel Corp owned 12.48% of Borqs Technologies worth $19,200,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 24.88% of the company’s stock.

Several research firms have recently issued reports on BRQS. TheStreet upgraded shares of Borqs Technologies from a “d” rating to a “c-” rating in a research note on Monday, March 25th. ValuEngine lowered shares of Borqs Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 10th.

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About Borqs Technologies

Borqs Technologies, Inc, through its subsidiaries, provides development services, software solutions, and products for Android-based smart connected devices in China, India, the United States, and internationally. It operates through two segments, Mobile Virtual Network Operator Services and Connected Solutions.

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