SK hynix Inc. (NASDAQ:SKHY) Sees Large Increase in Short Interest

SK hynix Inc. (NASDAQ:SKHY) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 22,517,398 shares, an increase of 51.6% from the July 15th total of 14,857,954 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 45,658,865 shares, the short-interest ratio is currently 0.5 days.

SK hynix Stock Down 7.0%

Shares of SK hynix stock traded down $11.94 during trading on Tuesday, reaching $159.44. 7,540,248 shares of the company were exchanged, compared to its average volume of 39,050,832. SK hynix has a twelve month low of $124.80 and a twelve month high of $194.80.

SK hynix (NASDAQ:SKHY) last released its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share for the quarter. The company had revenue of $51.19 billion during the quarter. As a group, equities research analysts expect that SK hynix will post 25.48 EPS for the current fiscal year.

Analyst Ratings Changes

SKHY has been the subject of a number of research reports. Zacks Research raised shares of SK hynix to a “hold” rating in a report on Friday, July 24th. UBS Group initiated coverage on SK hynix in a research note on Wednesday, July 29th. They set a “buy” rating and a $204.00 price target on the stock. Wolfe Research began coverage on SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 price objective for the company. Wedbush raised SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $245.50.

SK hynix Company Profile

SK hynix Inc is a South Korea-based semiconductor company that develops, manufactures, and sells memory products used in a wide range of electronic devices and computing systems. Its portfolio includes DRAM, NAND flash, and other memory solutions that support applications such as servers, PCs, mobile devices, and consumer electronics.

The company serves customers globally through the semiconductor supply chain and is recognized as one of the major memory chip producers in the industry.