Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) Short Interest Up 260.9% in June

Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 208,401 shares, a growth of 260.9% from the May 31st total of 57,741 shares. Based on an average daily trading volume, of 1,239,748 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hong Kong Pharma Digital Technology stock. StoneX Group Inc. acquired a new stake in shares of Hong Kong Pharma Digital Technology Holdings Limited (NASDAQ:HKPD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,284 shares of the company’s stock, valued at approximately $36,000. StoneX Group Inc. owned about 0.39% of Hong Kong Pharma Digital Technology as of its most recent filing with the Securities and Exchange Commission.

Hong Kong Pharma Digital Technology Price Performance

NASDAQ:HKPD traded down $0.01 during mid-day trading on Friday, reaching $0.36. 14,700 shares of the stock were exchanged, compared to its average volume of 760,880. The business has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.66. Hong Kong Pharma Digital Technology has a 1-year low of $0.32 and a 1-year high of $2.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.93 and a quick ratio of 2.73.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Hong Kong Pharma Digital Technology in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Hong Kong Pharma Digital Technology currently has an average rating of “Sell”.

Hong Kong Pharma Digital Technology Company Profile

Hong Kong Pharma is an exempted limited liability company formed under the laws of the Cayman Islands on August 17, 2023. As a holding company with no material operations of its own, Hong Kong Pharma conducts its operations through its wholly owned subsidiaries, Joint Cross Border Logistics Company Limited and V-Alliance Technology Supplies Limited, each a limited liability corporation incorporated in Hong Kong and collectively referred to as HK Subsidiaries. Our business offering consists of two main categories: (i) OTC pharmaceutical cross-border e-commerce supply chain services, primarily conducted through our Hong Kong subsidiary, Joint Cross Border, which we refer to as the “Supply Chain Services” division and (ii) OTC pharmaceutical cross-border procurement and distribution, primarily conducted through our Hong Kong subsidiary, V-Alliance, which we refer to as the “Procurement and Distribution” division.