Smart Share Global (NYSE:EM) Stock Price Down 0.7% – Time to Sell?

Smart Share Global Limited (NYSE:EM)’s stock price dropped 0.7% on Tuesday . The stock traded as low as $1.34 and last traded at $1.36. Approximately 958,710 shares changed hands during mid-day trading, an increase of 61% from the average daily volume of 594,841 shares. The stock had previously closed at $1.37.

Smart Share Global Price Performance

The firm has a market capitalization of $344.82 million, a price-to-earnings ratio of 45.35 and a beta of 0.69. The business’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.24.

Hedge Funds Weigh In On Smart Share Global

Large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Smart Share Global in the first quarter valued at approximately $58,000. Palliser Capital UK Ltd lifted its holdings in Smart Share Global by 23.8% in the second quarter. Palliser Capital UK Ltd now owns 7,373,915 shares of the company’s stock valued at $8,406,000 after acquiring an additional 1,419,335 shares during the period. XTX Topco Ltd acquired a new stake in Smart Share Global in the second quarter valued at $27,000. MASO CAPITAL PARTNERS Ltd boosted its position in shares of Smart Share Global by 12.3% during the 2nd quarter. MASO CAPITAL PARTNERS Ltd now owns 2,954,764 shares of the company’s stock worth $3,368,000 after purchasing an additional 322,504 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Smart Share Global during the 3rd quarter worth $58,000. 83.96% of the stock is owned by hedge funds and other institutional investors.

Smart Share Global Company Profile

Smart Share Global Limited, a consumer tech company, provides mobile device charging services in the People's Republic of China. The company provides mobile device charging services through online and offline networks; and rents power banks. It offers services through its power banks placed in points of interests (POIs) operated by its location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces.