Smart Share Global (NYSE:EM) Stock Price Up 1.8% – Still a Buy?

Smart Share Global Limited (NYSE:EM)’s stock price shot up 1.8% on Thursday . The company traded as high as $1.16 and last traded at $1.16. 95,316 shares changed hands during trading, a decline of 58% from the average session volume of 226,813 shares. The stock had previously closed at $1.14.

Smart Share Global Stock Up 1.8%

The company has a market cap of $294.11 million, a P/E ratio of 38.68 and a beta of 0.70. The firm’s 50-day moving average price is $1.22 and its 200-day moving average price is $1.28.

Hedge Funds Weigh In On Smart Share Global

Several hedge funds have recently made changes to their positions in the stock. Palliser Capital UK Ltd lifted its holdings in 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of Smart Share Global during the second quarter valued at about $27,000. MASO CAPITAL PARTNERS Ltd increased its position in shares of Smart Share Global by 12.3% during the second quarter. MASO CAPITAL PARTNERS Ltd now owns 2,954,764 shares of the company’s stock valued at $3,368,000 after buying an additional 322,504 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Smart Share Global in the third quarter worth about $58,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Smart Share Global in the third quarter valued at approximately $2,633,000. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

Smart Share Global Company Profile

Smart Share Global Ltd. (NYSE: EM) is a technology-driven provider of digital display solutions and integrated marketing services. Headquartered in Hong Kong, the company specializes in the research, development, production and distribution of smart display hardware and software platforms. Its offerings are designed to help businesses modernize customer engagement through high-definition screens, interactive kiosks and LED video walls, supported by a proprietary content management system.

The company’s product portfolio includes digital signage panels, interactive touchscreens and system-on-chip media players, complemented by software for real-time content scheduling, remote monitoring and performance analytics.