Short Interest in SAGTEC GLOBAL Ltd (NASDAQ:SAGT) Declines By 78.6%

SAGTEC GLOBAL Ltd (NASDAQ:SAGT) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 206,187 shares, a decline of 78.6% from the April 30th total of 962,223 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 304,838 shares, the short-interest ratio is presently 0.7 days.

SAGTEC GLOBAL Price Performance

Shares of NASDAQ:SAGT traded up $0.01 during trading on Friday, reaching $1.09. 563,919 shares of the company traded hands, compared to its average volume of 1,309,433. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.04. SAGTEC GLOBAL has a 52 week low of $0.72 and a 52 week high of $3.39.

SAGTEC GLOBAL (NASDAQ:SAGT) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.11) EPS for the quarter. The company had revenue of $3.95 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on SAGTEC GLOBAL in a research report on Thursday, May 21st. They issued a “sell (d)” rating on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Insider Buying and Selling

In other SAGTEC GLOBAL news, CFO Mohd Adnan Zuria Hajar Binti sold 19,350 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $2.73, for a total value of $52,825.50. Following the transaction, the chief financial officer directly owned 104,500 shares of the company’s stock, valued at $285,285. This represents a 15.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

About SAGTEC GLOBAL

Our business was originally incorporated in Malaysia in 2018, and is principally involved in the provision of customizable software solutions encompassing several types of software such as a smart ordering system, Speed +, which is a smart solutions application software for the food and beverage industry. The Speed+ software is installed onto our existing Point of Sale (POS) machines, which are sourced from third-party suppliers. These POS machines, equipped with Speed+, are then leased to clients, providing a seamless and integrated solution for efficient order management and transaction processing.