JX Luxventure Group Inc (NASDAQ:JXG) Sees Significant Decrease in Short Interest

JX Luxventure Group Inc (NASDAQ:JXG) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 16,732 shares, a drop of 79.7% from the December 15th total of 82,318 shares. Currently, 11.2% of the shares of the stock are sold short. Based on an average trading volume of 50,581 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 50,581 shares, the days-to-cover ratio is currently 0.3 days. Currently, 11.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JXG. Wall Street Zen raised shares of JX Luxventure Group from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings restated a “sell (d)” rating on shares of JX Luxventure Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

JX Luxventure Group Stock Performance

Shares of JXG stock remained flat at $5.01 during trading hours on Tuesday. 7,290 shares of the company’s stock traded hands, compared to its average volume of 29,548. JX Luxventure Group has a 52-week low of $3.01 and a 52-week high of $68.25. The stock has a 50-day simple moving average of $6.68 and a 200 day simple moving average of $12.19.

JX Luxventure Group (NASDAQ:JXG) last issued its earnings results on Wednesday, November 5th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $12.59 million for the quarter.

JX Luxventure Group Company Profile

JX Luxventure Group Inc is a special purpose acquisition company incorporated in Delaware. As a blank check entity, it has no commercial operations of its own and was established to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The company’s sponsors and management team bring experience in financial services, corporate finance and mergers and acquisitions.