Short Interest in Smart Share Global Limited (NYSE:EM) Rises By 353.9%

Smart Share Global Limited (NYSE:EM) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 64,000 shares, a growth of 353.9% from the August 31st total of 14,100 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 757,300 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 757,300 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Smart Share Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Smart Share Global in the 2nd quarter valued at $27,000. Virtu Financial LLC acquired a new position in shares of Smart Share Global during the 1st quarter worth about $58,000. MASO CAPITAL PARTNERS Ltd acquired a new position in shares of Smart Share Global during the 1st quarter worth about $2,948,000. Finally, Palliser Capital UK Ltd increased its stake in shares of Smart Share Global by 23.8% during the 2nd quarter. Palliser Capital UK Ltd now owns 7,373,915 shares of the company’s stock worth $8,406,000 after purchasing an additional 1,419,335 shares during the last quarter. 83.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup reaffirmed a “neutral” rating and issued a $1.25 price objective (up from $1.00) on shares of Smart Share Global in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Smart Share Global currently has an average rating of “Hold” and an average price target of $1.25.

Smart Share Global Trading Down 0.7%

Shares of EM stock opened at $1.33 on Friday. Smart Share Global has a 1 year low of $0.59 and a 1 year high of $1.45. The firm’s fifty day moving average price is $1.28 and its two-hundred day moving average price is $1.16. The firm has a market capitalization of $337.21 million, a P/E ratio of 44.35 and a beta of 0.69.

Smart Share Global Company Profile

Smart Share Global Limited, a consumer tech company, provides mobile device charging services in the People's Republic of China. The company provides mobile device charging services through online and offline networks; and rents power banks. It offers services through its power banks placed in points of interests (POIs) operated by its location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces.