Scienture Holdings, Inc. (NASDAQ:SCNX) Sees Large Increase in Short Interest

Scienture Holdings, Inc. (NASDAQ:SCNX) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 2,993,473 shares, an increase of 114.8% from the February 26th total of 1,393,320 shares. Currently, 9.4% of the shares of the company are sold short. Based on an average daily volume of 15,312,289 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Scienture

A hedge fund recently raised its stake in Scienture stock. Geode Capital Management LLC grew its holdings in shares of Scienture Holdings, Inc. (NASDAQ:SCNX) by 264.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 316,201 shares of the company’s stock after purchasing an additional 229,398 shares during the period. Geode Capital Management LLC owned approximately 0.78% of Scienture worth $161,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 5.68% of the company’s stock.

Scienture Price Performance

Shares of SCNX traded down $0.01 during midday trading on Thursday, reaching $0.45. The stock had a trading volume of 155,661 shares, compared to its average volume of 3,423,315. The company has a market capitalization of $18.32 million, a P/E ratio of -0.46 and a beta of 3.01. The firm’s 50 day moving average price is $0.45 and its 200-day moving average price is $0.62. Scienture has a 52 week low of $0.37 and a 52 week high of $2.60.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scienture in a report on Monday, December 29th. Wall Street Zen upgraded shares of Scienture to a “hold” rating in a research report on Saturday, March 14th. Finally, Maxim Group assumed coverage on shares of Scienture in a research note on Tuesday, February 24th. They issued a “buy” rating and a $1.50 price target for the company. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Scienture currently has an average rating of “Hold” and an average price target of $1.50.

Scienture Company Profile

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.