Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) Sees Significant Drop in Short Interest

Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) saw a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 16,869 shares, a decline of 91.4% from the October 15th total of 195,736 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 77,912 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Hong Kong Pharma Digital Technology from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has an average rating of “Sell”.

Hong Kong Pharma Digital Technology Stock Up 2.9%

Hong Kong Pharma Digital Technology stock traded up $0.04 during mid-day trading on Wednesday, hitting $1.62. The company’s stock had a trading volume of 5,349 shares, compared to its average volume of 66,490. The business has a 50 day moving average price of $2.22 and a 200-day moving average price of $8.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.75 and a current ratio of 3.86. Hong Kong Pharma Digital Technology has a 12 month low of $1.34 and a 12 month high of $29.00.

Hong Kong Pharma Digital Technology Company Profile

Hong Kong Pharma is an exempted limited liability company formed under the laws of the Cayman Islands on August 17, 2023. As a holding company with no material operations of its own, Hong Kong Pharma conducts its operations through its wholly owned subsidiaries, Joint Cross Border Logistics Company Limited and V-Alliance Technology Supplies Limited, each a limited liability corporation incorporated in Hong Kong and collectively referred to as HK Subsidiaries. Our business offering consists of two main categories: (i) OTC pharmaceutical cross-border e-commerce supply chain services, primarily conducted through our Hong Kong subsidiary, Joint Cross Border, which we refer to as the “Supply Chain Services” division and (ii) OTC pharmaceutical cross-border procurement and distribution, primarily conducted through our Hong Kong subsidiary, V-Alliance, which we refer to as the “Procurement and Distribution” division.