Kuaishou Technology (OTCMKTS:KUASF) Short Interest Up 62.3% in August

Kuaishou Technology (OTCMKTS:KUASF) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 20,899,054 shares, a growth of 62.3% from the August 15th total of 12,879,270 shares. Based on an average daily trading volume, of 478 shares, the short-interest ratio is presently 43,721.9 days.

Kuaishou Technology Price Performance

Kuaishou Technology stock opened at $4.65 on Friday. The firm’s 50 day simple moving average is $5.16 and its 200 day simple moving average is $6.02. Kuaishou Technology has a 1-year low of $4.25 and a 1-year high of $12.63.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays set a $5.00 target price on Kuaishou Technology in a research report on Thursday, May 28th. The Goldman Sachs Group lowered Kuaishou Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, August 20th. Finally, Citigroup cut Kuaishou Technology from a “buy” rating to a “hold” rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Kuaishou Technology Company Profile

Kuaishou Technology is a leading social media and technology company best known for its short-form video and live-streaming platforms. Founded in 2011 and headquartered in Beijing, the company operates a suite of mobile applications that enable users to create, share and interact through user-generated video content. Over the years, Kuaishou has expanded its offerings to include live commerce features, allowing content creators to sell products directly during live broadcasts and fostering a vibrant ecosystem of merchants, influencers and viewers.

The company’s flagship app serves hundreds of millions of daily active users primarily in Mainland China, where it competes with other major short-video platforms.