Kuaishou Technology (OTCMKTS:KUASF) Sees Significant Growth in Short Interest

Kuaishou Technology (OTCMKTS:KUASF) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 20,899,054 shares, an increase of 62.3% from the August 15th total of 12,879,270 shares. Based on an average daily trading volume, of 478 shares, the short-interest ratio is currently 43,721.9 days.

Kuaishou Technology Stock Performance

OTCMKTS:KUASF remained flat at $4.65 during midday trading on Thursday. Kuaishou Technology has a 52 week low of $4.25 and a 52 week high of $12.63. The firm has a 50 day moving average price of $5.19 and a 200-day moving average price of $6.04.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KUASF. The Goldman Sachs Group downgraded Kuaishou Technology from a “buy” rating to a “neutral” rating in a report on Thursday, August 20th. Barclays set a $5.00 price objective on Kuaishou Technology in a research note on Thursday, May 28th. Finally, Citigroup lowered Kuaishou Technology from a “buy” rating to a “hold” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.00.

Kuaishou Technology Company Profile

Kuaishou Technology is a leading social media and technology company best known for its short-form video and live-streaming platforms. Founded in 2011 and headquartered in Beijing, the company operates a suite of mobile applications that enable users to create, share and interact through user-generated video content. Over the years, Kuaishou has expanded its offerings to include live commerce features, allowing content creators to sell products directly during live broadcasts and fostering a vibrant ecosystem of merchants, influencers and viewers.

The company’s flagship app serves hundreds of millions of daily active users primarily in Mainland China, where it competes with other major short-video platforms.