VCI Global Limited (NASDAQ:VCIG) Sees Large Growth in Short Interest

VCI Global Limited (NASDAQ:VCIG) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 989,757 shares, an increase of 457.8% from the May 14th total of 177,440 shares. Currently, 48.3% of the shares of the company are short sold. Based on an average daily volume of 16,660,581 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of VCI Global in a research report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of VCI Global

An institutional investor recently bought a new position in VCI Global stock. Jane Street Group LLC purchased a new position in shares of VCI Global Limited (NASDAQ:VCIG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 47,075 shares of the company’s stock, valued at approximately $25,000. Jane Street Group LLC owned approximately 0.78% of VCI Global at the end of the most recent quarter. 0.20% of the stock is currently owned by hedge funds and other institutional investors.

VCI Global Trading Down 16.2%

NASDAQ:VCIG traded down $0.93 during mid-day trading on Friday, hitting $4.79. The stock had a trading volume of 71,814 shares, compared to its average volume of 1,866,553. The company has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $20.40. VCI Global has a 52 week low of $0.71 and a 52 week high of $5,544.00.

VCI Global Company Profile

VCI Global, Inc (NASDAQ: VCIG) is a provider of outsourced receivables management and credit risk mitigation solutions for corporations, financial institutions and government agencies. The company offers end-to-end account administration services designed to streamline the order-to-cash cycle, helping clients improve cash flow, reduce days sales outstanding and mitigate credit risk across domestic and international markets.

VCI Global’s suite of services encompasses credit application processing, account setup, credit file creation, early-stage reconciliation and disputes management, cash application, and first- and third-party collections.