Zhibao Technology Inc. (NASDAQ:ZBAO) Sees Significant Growth in Short Interest

Zhibao Technology Inc. (NASDAQ:ZBAO) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 650,165 shares, an increase of 537.9% from the September 15th total of 101,927 shares. Based on an average daily volume of 26,907,764 shares, the days-to-cover ratio is currently 0.0 days. Currently, 2.0% of the company’s stock are short sold.

Zhibao Technology Stock Down 2.0%

Shares of Zhibao Technology stock opened at $0.06 on Friday. The firm’s fifty day simple moving average is $0.15 and its 200-day simple moving average is $0.46. Zhibao Technology has a 12 month low of $0.04 and a 12 month high of $1.34.

Zhibao Technology shares are going to reverse split on the morning of Monday, October 12th. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 11th.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Zhibao Technology in a report on Friday, October 2nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Zhibao Technology has a consensus rating of “Sell”.

About Zhibao Technology

Zhibao Technology Inc is an insurance technology company based in China. Through its digital platform and related services, the company focuses on insurance brokerage and the distribution of commercial property and casualty insurance products.

Zhibao Technology works with businesses and insurance providers to support the design, placement and servicing of insurance coverage. Its technology-based model is intended to streamline insurance transactions and help commercial customers access insurance products through digital channels.

The company operates primarily in the Chinese insurance market.