Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) Sees Large Increase in Short Interest

Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) was the recipient of a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 94,591 shares, an increase of 178.1% from the October 15th total of 34,010 shares. Approximately 78.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 253,895 shares, the days-to-cover ratio is currently 0.4 days.

Trident Digital Tech Stock Up 5.2%

Shares of TDTH stock opened at $0.79 on Friday. Trident Digital Tech has a fifty-two week low of $0.56 and a fifty-two week high of $20.85. The firm’s 50 day moving average price is $1.12 and its two-hundred day moving average price is $590.73.

Trident Digital Tech (NASDAQ:TDTH) last released its quarterly earnings data on Friday, October 16th. The company reported ($1.38) earnings per share (EPS) for the quarter. The firm had revenue of $0.19 million for the quarter.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Trident Digital Tech to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings downgraded shares of Trident Digital Tech from a “sell (e+)” rating to a “sell (e-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Trident Digital Tech

A hedge fund recently raised its position in Trident Digital Tech stock. Renaissance Technologies LLC increased its holdings in shares of Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) by 547.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 424,000 shares of the company’s stock after purchasing an additional 358,513 shares during the period. Renaissance Technologies LLC owned 326.15% of Trident Digital Tech worth $81,000 as of its most recent filing with the Securities and Exchange Commission.

About Trident Digital Tech

Trident Digital Tech Holdings Limited is a technology company focused on providing digital transformation solutions. Its services are intended to help businesses modernize their technology infrastructure, improve operational efficiency and adopt digitally enabled business processes. The company’s offerings include technology and managed services supporting areas such as cloud computing, cybersecurity, data management and other enterprise digital solutions. These services are designed to assist organizations with the deployment, management and ongoing optimization of their digital systems.