Sound Group Inc. (NASDAQ:SOGP) Sees Significant Increase in Short Interest

Sound Group Inc. (NASDAQ:SOGP) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 16,800 shares, an increase of 354.1% from the December 31st total of 3,700 shares. Based on an average daily trading volume, of 24,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the shares of the company are sold short.

Sound Group Stock Performance

Shares of SOGP traded down $0.07 on Tuesday, reaching $2.03. 50,411 shares of the stock traded hands, compared to its average volume of 49,767. Sound Group has a 12 month low of $1.49 and a 12 month high of $6.70. The stock’s 50-day moving average price is $1.93 and its 200-day moving average price is $1.92.

Institutional Trading of Sound Group

A hedge fund recently bought a new stake in Sound Group stock. Renaissance Technologies LLC bought a new position in shares of Sound Group Inc. (NASDAQ:SOGP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,158 shares of the company’s stock, valued at approximately $31,000. Renaissance Technologies LLC owned about 0.29% of Sound Group as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 1.62% of the company’s stock.

About Sound Group

Sound Group Inc operates as an audio-centric social and entertainment company. It focuses on building audio platform to connect and communicate. The company, through its product portfolio and in-house technologies, caters to user interest in audio entertainment and social networking. The company was formerly known as LIZHI INC.