Short Interest in JX Luxventure Group Inc (NASDAQ:JXG) Decreases By 71.0%

JX Luxventure Group Inc (NASDAQ:JXG) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,243 shares, a drop of 71.0% from the May 14th total of 7,734 shares. Based on an average trading volume of 9,695 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.5% of the company’s shares are sold short.

JX Luxventure Group Stock Performance

JXG stock traded down $0.53 on Thursday, reaching $8.98. The company’s stock had a trading volume of 3,694 shares, compared to its average volume of 8,693. The business has a fifty day simple moving average of $5.41 and a two-hundred day simple moving average of $5.08. JX Luxventure Group has a 12-month low of $3.01 and a 12-month high of $37.95.

JX Luxventure Group (NASDAQ:JXG) last posted its quarterly earnings data on Friday, May 15th. The company reported ($11.33) earnings per share (EPS) for the quarter. The business had revenue of $28.88 million during the quarter.

Hedge Funds Weigh In On JX Luxventure Group

A hedge fund recently bought a new stake in JX Luxventure Group stock. HRT Financial LP acquired a new position in JX Luxventure Group Inc (NASDAQ:JXG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,213 shares of the company’s stock, valued at approximately $139,000. HRT Financial LP owned approximately 15.48% of JX Luxventure Group at the end of the most recent quarter. 5.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered JX Luxventure Group from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

About JX Luxventure Group

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.