Reebonz Holding Ltd (NASDAQ:RBZ) Short Interest Update

Reebonz Holding Ltd (NASDAQ:RBZ) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 577,900 shares, a growth of 27.8% from the September 30th total of 452,300 shares. Currently, 12.9% of the company’s shares are sold short. Based on an average trading volume of 578,700 shares, the days-to-cover ratio is currently 1.0 days.

Several institutional investors have recently added to or reduced their stakes in RBZ. Citadel Advisors LLC purchased a new position in Reebonz in the second quarter worth about $51,000. Cowen Inc. purchased a new position in Reebonz in the second quarter worth about $113,000. Finally, Verition Fund Management LLC purchased a new position in Reebonz in the second quarter worth about $665,000. 9.52% of the stock is currently owned by institutional investors.

Shares of Reebonz stock traded up $0.02 during trading on Thursday, hitting $1.12. 481,900 shares of the company’s stock traded hands, compared to its average volume of 1,194,371. Reebonz has a 1 year low of $0.91 and a 1 year high of $83.52. The business has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $3.06.

RBZ has been the subject of a number of research analyst reports. Roth Capital dropped their price target on Reebonz from $11.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Zacks Investment Research raised Reebonz from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. ValuEngine raised Reebonz from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Maxim Group set a $5.00 price target on Reebonz and gave the stock a “buy” rating in a research note on Thursday, September 26th.

Reebonz Company Profile

Reebonz Holding Limited operates an online platform for buying and selling a range of luxury products in Southeast Asia and the Asia Pacific markets. It offers a range of new and pre-owned luxury bags, accessories, watches, jewelry, and shoes from designer labels and a curation of merchants through sale events and Reebonz app, as well as iPhone, iPad, and Android platforms.

Read More: Cost of Capital Explained

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