Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) Sees Significant Increase in Short Interest

Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 4,013,156 shares, a growth of 131.9% from the February 12th total of 1,730,371 shares. Based on an average trading volume of 62,834,684 shares, the days-to-cover ratio is currently 0.1 days. Currently, 8.9% of the shares of the company are sold short. Currently, 8.9% of the shares of the company are sold short. Based on an average trading volume of 62,834,684 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Tian Ruixiang

An institutional investor recently bought a new position in Tian Ruixiang stock. Sabby Management LLC bought a new stake in shares of Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 624,551 shares of the company’s stock, valued at approximately $226,000. Tian Ruixiang comprises 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 15th largest position. Sabby Management LLC owned approximately 2.56% of Tian Ruixiang at the end of the most recent quarter. Hedge funds and other institutional investors own 10.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on shares of Tian Ruixiang in a report on Friday, December 26th. They set a “sell (e-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Tian Ruixiang Stock Performance

Tian Ruixiang stock opened at $0.03 on Thursday. Tian Ruixiang has a 12-month low of $0.02 and a 12-month high of $10.75. The firm has a 50 day simple moving average of $0.24 and a 200-day simple moving average of $1.02.

Tian Ruixiang’s stock is going to reverse split on Monday, March 16th. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 15th.

About Tian Ruixiang

Tian Ruixiang Holdings Ltd, together its subsidiaries, operates as an insurance broker in China and the United States. It distributes a range of insurance products, including property and casualty insurance, such as automobile, commercial property, liability, and accidental insurance; and life insurance comprising individual and group life insurances, as well as health and miscellaneous insurance. It serves individual or institutional customers. The company was founded in 2010 and is headquartered in Beijing, China.