Short Interest in SemiLEDs Co. (NASDAQ:LEDS) Decreases By 12.9%

SemiLEDs Co. (NASDAQ:LEDSGet Rating) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 68,600 shares, a decrease of 12.9% from the October 15th total of 78,800 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average trading volume of 28,400 shares, the days-to-cover ratio is currently 2.4 days.

SemiLEDs Price Performance

Shares of NASDAQ:LEDS opened at $2.46 on Thursday. The business has a 50 day moving average price of $2.51 and a 200 day moving average price of $2.69. SemiLEDs has a twelve month low of $2.05 and a twelve month high of $7.35. The company has a market cap of $11.89 million, a price-to-earnings ratio of -4.03 and a beta of 1.17. The company has a quick ratio of 0.58, a current ratio of 0.99 and a debt-to-equity ratio of 0.53.

Analyst Upgrades and Downgrades

Separately, assumed coverage on SemiLEDs in a research note on Monday. They set a “sell” rating for the company.

Institutional Trading of SemiLEDs

Several hedge funds have recently added to or reduced their stakes in LEDS. Millennium Management LLC acquired a new position in SemiLEDs in the 2nd quarter valued at approximately $59,000. Bank of America Corp DE bought a new stake in shares of SemiLEDs in the 1st quarter worth approximately $59,000. Finally, Citadel Advisors LLC bought a new stake in shares of SemiLEDs in the 3rd quarter worth approximately $29,000. Institutional investors own 1.90% of the company’s stock.

About SemiLEDs

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SemiLEDs Corporation develops, manufactures, and sells light emitting diode (LED) chips, LED components, and LED modules and systems in the United States, Taiwan, the Netherlands, Germany, Japan, Ireland, and internationally. The company also sells enhanced vertical, LED product series in blue, white, green, and UV; LED chips to packagers or distributors; and lighting products primarily to original design manufacturers of lighting products and the end-users of lighting devices, as well as packages and sells its LED chips into LED components to distributors.

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