Short Interest in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Rises By 150.0%

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 14,500 shares, an increase of 150.0% from the August 15th total of 5,800 shares. Based on an average daily volume of 12,600 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in OneConnect Financial Technology stock. M&G Plc bought a new position in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,324,592 shares of the company’s stock, valued at approximately $2,941,000. M&G Plc owned approximately 3.40% of OneConnect Financial Technology at the end of the most recent quarter. 4.05% of the stock is owned by institutional investors.

OneConnect Financial Technology Stock Performance

Shares of OCFT traded up $0.13 on Thursday, reaching $1.18. The stock had a trading volume of 24,820 shares, compared to its average volume of 17,588. The firm has a market capitalization of $46.02 million, a price-to-earnings ratio of -0.86 and a beta of 0.60. The company has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.86. OneConnect Financial Technology has a 12-month low of $0.87 and a 12-month high of $3.84.

OneConnect Financial Technology (NYSE:OCFT) last released its earnings results on Friday, August 16th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $95.64 million during the quarter. OneConnect Financial Technology had a negative net margin of 1.09% and a negative return on equity of 8.09%.

OneConnect Financial Technology Company Profile

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.