Short Interest in XCHG Limited (NASDAQ:XCH) Decreases By 54.4%

XCHG Limited (NASDAQ:XCH) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 65,678 shares, a decrease of 54.4% from the July 15th total of 144,160 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 42,110 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XCHG in a research report on Wednesday, July 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

XCHG Trading Down 4.2%

NASDAQ:XCH opened at $0.26 on Friday. The firm has a market capitalization of $20.81 million, a PE ratio of -3.19 and a beta of -1.02. XCHG has a 1 year low of $0.23 and a 1 year high of $2.50. The firm’s fifty day simple moving average is $234.12 and its 200 day simple moving average is $350.06.

XCHG’s stock is set to reverse split before the market opens on Friday, August 21st. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, August 20th.

XCHG Company Profile

XCHG Limited, branded as XCharge, is a company whose subsidiaries design, manufacture, and sell electric vehicle (EV) charging solutions under the X-Charge name in Europe, China, the United States, and other international markets. The company focuses on DC fast-charging infrastructure, including its C6 and C7 series chargers and Net Zero battery-integrated fast-charging systems, and also provides related software upgrades and hardware maintenance services for EV manufacturers, energy companies, and charge point operators.