Chijet Motor Company, Inc. (NASDAQ:DCX) Short Interest Down 78.4% in August

Chijet Motor Company, Inc. (NASDAQ:DCX) saw a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 125,635 shares, a drop of 78.4% from the July 30th total of 581,799 shares. Based on an average daily volume of 70,288 shares, the days-to-cover ratio is currently 1.8 days. Approximately 62.8% of the shares of the company are sold short.

Insider Buying and Selling

In related news, CEO Melissa N. Chen bought 41,000 shares of Chijet Motor stock in a transaction dated Thursday, July 30th. The shares were bought at an average cost of $1.25 per share, with a total value of $51,250.00. Following the acquisition, the chief executive officer owned 41,000 shares in the company, valued at $51,250. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 22.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Chijet Motor in a research report on Monday, July 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Chijet Motor Price Performance

DCX traded down $0.01 on Friday, reaching $0.74. The stock had a trading volume of 69,314 shares, compared to its average volume of 644,601. Chijet Motor has a fifty-two week low of $0.63 and a fifty-two week high of $2,136.00. The firm has a 50-day moving average of $1.04 and a 200-day moving average of $1.74.

About Chijet Motor

Chijet Motor Company, Inc engages in the research and development, production, and sale of new energy vehicles. It offers battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The company was founded in 2021 and is based in Grand Cayman, the Cayman Islands.