SGOCO Group, Ltd. (NASDAQ:SGOC) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,110,000 shares, an increase of 315.9% from the August 15th total of 266,900 shares. Based on an average daily volume of 10,740,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.3% of the company’s stock are short sold.
SGOC stock opened at $5.97 on Friday. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.09. SGOCO Group has a fifty-two week low of $0.77 and a fifty-two week high of $29.00. The business’s fifty day moving average price is $8.34 and its two-hundred day moving average price is $4.17.
Hedge funds have recently modified their holdings of the business. Citigroup Inc. purchased a new position in shares of SGOCO Group during the 1st quarter valued at $29,000. Citadel Advisors LLC bought a new stake in shares of SGOCO Group during the 1st quarter valued at $53,000. Millennium Management LLC bought a new position in SGOCO Group in the 1st quarter worth about $54,000. Geode Capital Management LLC bought a new position in SGOCO Group in the 1st quarter worth about $100,000. Finally, Renaissance Technologies LLC increased its stake in SGOCO Group by 345.2% in the 1st quarter. Renaissance Technologies LLC now owns 59,195 shares of the technology company’s stock worth $125,000 after acquiring an additional 45,900 shares during the last quarter. Institutional investors and hedge funds own 0.25% of the company’s stock.
SGOCO Group Ltd. is a holding company, which engages in environmental protection, energy saving technologies, equipment development and applications, money lending business in Hong Kong providing mortgage loans to high quality target borrowers and property investment to generate additional rental income.
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