DiDi Global Inc. (NYSE:DIDI) Short Interest Down 32.0% in April

DiDi Global Inc. (NYSE:DIDIGet Rating) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 36,790,000 shares, a drop of 32.0% from the April 15th total of 54,120,000 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 52,100,000 shares, the days-to-cover ratio is currently 0.7 days.

Shares of DIDI traded up 0.03 during midday trading on Friday, hitting 1.49. The company had a trading volume of 24,379,400 shares, compared to its average volume of 36,675,700. The company’s 50-day simple moving average is 2.49 and its 200-day simple moving average is 4.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.82 and a current ratio of 2.82. DiDi Global has a 1 year low of 1.37 and a 1 year high of 18.01.

DiDi Global (NYSE:DIDIGet Rating) last announced its quarterly earnings data on Saturday, April 16th. The ride-hailing company reported -0.01 earnings per share (EPS) for the quarter. The company had revenue of 6.40 billion during the quarter. DiDi Global had a negative net margin of 28.68% and a negative return on equity of 94.91%.

Separately, Sanford C. Bernstein initiated coverage on DiDi Global in a report on Monday, February 14th. They set an “outperform” rating and a $6.20 target price for the company.

Institutional investors and hedge funds have recently made changes to their positions in the company. Davis Selected Advisers boosted its stake in shares of DiDi Global by 9.4% in the 3rd quarter. Davis Selected Advisers now owns 47,520,152 shares of the ride-hailing company’s stock valued at $354,037,000 after buying an additional 4,070,604 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of DiDi Global in the 3rd quarter valued at about $717,000. Korea Investment CORP purchased a new position in shares of DiDi Global in the 4th quarter valued at about $537,000. Bank of America Corp DE boosted its stake in shares of DiDi Global by 52.2% in the 4th quarter. Bank of America Corp DE now owns 12,990,478 shares of the ride-hailing company’s stock valued at $64,692,000 after buying an additional 4,456,215 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of DiDi Global during the 3rd quarter worth about $264,000. Institutional investors and hedge funds own 10.43% of the company’s stock.

About DiDi Global (Get Rating)

DiDi Global Inc, a mobility technology platform, provides ride hailing and other services in the People's Republic of China, Brazil, Mexico, and internationally. It offers ride hailing, taxi hailing, chauffeur, hitch, and other forms of shared mobility services, as well as enterprise business ride solutions; auto solutions comprising leasing, refueling, and maintenance and repair services; electric vehicle leasing services; bike and e-bike sharing, intra-city freight, food delivery, and financial services.

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