Short Interest in XCHG Limited (NASDAQ:XCH) Drops By 93.2%

XCHG Limited (NASDAQ:XCH) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 4,450 shares, a decrease of 93.2% from the July 30th total of 65,678 shares. Based on an average daily trading volume, of 2,392,450 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are sold short.

XCHG Stock Down 7.0%

NASDAQ:XCH traded down $0.32 during trading hours on Tuesday, hitting $4.22. 19,730 shares of the company’s stock traded hands, compared to its average volume of 19,592. XCHG has a 52 week low of $4.01 and a 52 week high of $49.98. The business’s fifty day simple moving average is $4,075.92 and its two-hundred day simple moving average is $6,635.25. The firm has a market cap of $17.22 million, a P/E ratio of -52.75 and a beta of -1.01.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About XCHG

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.