Orangekloud Technology Inc. (NASDAQ:ORKT) Short Interest Down 38.3% in May

Orangekloud Technology Inc. (NASDAQ:ORKT) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 44,675 shares, a decline of 38.3% from the May 14th total of 72,355 shares. Based on an average daily trading volume, of 114,346 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of analysts recently commented on ORKT shares. Maxim Group lowered Orangekloud Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Orangekloud Technology in a research report on Tuesday, May 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Orangekloud Technology Stock Performance

NASDAQ ORKT traded down $0.07 during trading on Wednesday, hitting $1.23. The stock had a trading volume of 43,658 shares, compared to its average volume of 664,448. The company’s 50-day moving average price is $1.10 and its two-hundred day moving average price is $1.03. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.02. Orangekloud Technology has a 12 month low of $0.62 and a 12 month high of $3.55.

Hedge Funds Weigh In On Orangekloud Technology

A hedge fund recently bought a new stake in Orangekloud Technology stock. Citadel Advisors LLC purchased a new stake in Orangekloud Technology Inc. (NASDAQ:ORKT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,601 shares of the company’s stock, valued at approximately $34,000. Citadel Advisors LLC owned 0.28% of Orangekloud Technology at the end of the most recent quarter.

About Orangekloud Technology

Orangekloud Technology, Inc is a holding company, which engages in providing information technology consulting services. Its digital transformation projects include the sales and consulting of Microsoft Dynamics ERP software licenses. It operates through the Packaged Software Solutions, and No-Code Platform and Mobile Application segments. The Packaged Software Solutions segment refers to packaged software and custom software solutions. The No-Code Platform and Mobile Application focuses on providing a rapid development environment through a No-Code platform.