Short Interest in Bat Group Inc (NASDAQ:GLG) Rises By 52.4%

Bat Group Inc (NASDAQ:GLG) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 180,100 shares, an increase of 52.4% from the July 31st total of 118,200 shares. Based on an average daily volume of 167,700 shares, the short-interest ratio is currently 1.1 days. Approximately 2.4% of the shares of the company are short sold.

Shares of Bat Group stock traded up $0.02 on Thursday, hitting $0.37. The company had a trading volume of 1,200 shares, compared to its average volume of 453,751. The business has a 50-day simple moving average of $0.35 and a 200-day simple moving average of $1.01. Bat Group has a 52 week low of $0.28 and a 52 week high of $4.97.

Bat Group (NASDAQ:GLG) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $0.54 million during the quarter. Bat Group had a negative net margin of 331.46% and a negative return on equity of 122.06%.

A hedge fund recently raised its stake in Bat Group stock. Citadel Advisors LLC boosted its position in Bat Group Inc (NASDAQ:GLG) by 507.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,851 shares of the company’s stock after purchasing an additional 64,208 shares during the period. Citadel Advisors LLC owned about 1.07% of Bat Group worth $42,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 2.15% of the company’s stock.

About Bat Group

Bat Group, Inc engages in leasing used cars to individual and corporate customers under the Batcar brand name in Beijing, Tianjin, and Hebei. It also rents cars to other auto rental companies at a discounted rate, as well as provides car pooling services. The company was formerly known as China Bat Group, Inc and changed its name to Bat Group, Inc in June 2019.

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