Lobo EV Technologies Ltd (NASDAQ:LOBO) Stock Short Interest Drops 52.2%

Lobo EV Technologies Ltd (NASDAQ:LOBO) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 32,214 shares, a drop of 52.2% from the August 31st total of 67,434 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 50,622 shares, the short-interest ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Lobo EV Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 16th. 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”.

Lobo EV Technologies Stock Down 2.8%

NASDAQ LOBO traded down $0.02 on Wednesday, hitting $0.52. 166,013 shares of the company were exchanged, compared to its average volume of 2,788,544. The stock has a fifty day moving average of $0.64 and a 200-day moving average of $0.64. Lobo EV Technologies has a 12 month low of $0.36 and a 12 month high of $1.48.

Lobo EV Technologies (NASDAQ:LOBO) last posted its quarterly earnings results on Saturday, September 19th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $7.29 million for the quarter.

About Lobo EV Technologies

Lobo EV Technologies Limited is an electric-vehicle company focused on the design, development, manufacture and sale of small electric vehicles. Through its operating subsidiaries in China, the company serves the growing market for lightweight and low-speed transportation products.

Lobo EV’s product portfolio includes electric tricycles, electric bicycles, electric scooters and other compact electric vehicles. Its products are intended for applications such as personal transportation, local delivery, cargo hauling and other short-distance mobility needs.