Zhibao Technology Inc. (NASDAQ:ZBAO) Stock Short Interest Declines 82.2%

Zhibao Technology Inc. (NASDAQ:ZBAO) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 115,867 shares, a decline of 82.2% from the September 30th total of 650,165 shares. Based on an average daily volume of 1,084,082 shares, the days-to-cover ratio is currently 0.1 days. Approximately 17.6% of the company’s shares are short sold.

Zhibao Technology Stock Up 2.2%

Shares of NASDAQ ZBAO opened at $0.33 on Wednesday. Zhibao Technology has a one year low of $0.30 and a one year high of $67.00. The business’s fifty day moving average price is $5.23 and its 200-day moving average price is $26.97.

Wall Street Analyst Weigh In

ZBAO has been the topic of several research analyst reports. Wall Street Zen upgraded Zhibao Technology to a “sell” rating in a research report on Saturday, October 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Zhibao Technology in a report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Zhibao Technology Company Profile

Zhibao Technology Inc (NASDAQ: ZBAO) is a China-based insurance technology company that provides digital insurance brokerage and related services. The company focuses primarily on commercial property and casualty insurance, helping businesses identify coverage needs and connect with suitable insurance products.

Through its digital platforms and brokerage operations, Zhibao Technology supports the distribution and administration of insurance policies. Its services are designed to connect commercial customers, insurance intermediaries and insurance carriers, with an emphasis on using technology to improve insurance product selection, transaction processing and ongoing policy services.

The company serves customers in China and operates through its subsidiaries and insurance-related business platforms.