Short Interest in VCI Global Limited (NASDAQ:VCIG) Declines By 52.1%

VCI Global Limited (NASDAQ:VCIG) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 46,762 shares, a decrease of 52.1% from the July 30th total of 97,720 shares. Based on an average trading volume of 1,200,752 shares, the days-to-cover ratio is currently 0.0 days. Approximately 2.3% of the company’s shares are sold short.

Hedge Funds Weigh In On VCI Global

An institutional investor recently bought a new stake in VCI Global stock. Jane Street Group LLC acquired a new stake in VCI Global Limited (NASDAQ:VCIG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 47,075 shares of the company’s stock, valued at approximately $25,000. Jane Street Group LLC owned approximately 0.78% of VCI Global as of its most recent SEC filing. 0.20% of the stock is currently owned by institutional investors and hedge funds.

VCI Global Trading Down 16.2%

Shares of VCI Global stock opened at $2.23 on Friday. The business has a 50-day moving average price of $18.43 and a two-hundred day moving average price of $58.05. VCI Global has a 1-year low of $2.18 and a 1-year high of $22,906.80.

VCI Global (NASDAQ:VCIG) last announced its quarterly earnings data on Tuesday, July 14th. The company reported ($597.31) earnings per share (EPS) for the quarter. The firm had revenue of $3.67 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of VCI Global in a research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

About VCI Global

VCI Global, Inc (NASDAQ: VCIG) is a provider of outsourced receivables management and credit risk mitigation solutions for corporations, financial institutions and government agencies. The company offers end-to-end account administration services designed to streamline the order-to-cash cycle, helping clients improve cash flow, reduce days sales outstanding and mitigate credit risk across domestic and international markets.

VCI Global’s suite of services encompasses credit application processing, account setup, credit file creation, early-stage reconciliation and disputes management, cash application, and first- and third-party collections.