Short Interest in Orangekloud Technology Inc. (NASDAQ:ORKT) Drops By 44.1%

Orangekloud Technology Inc. (NASDAQ:ORKT) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 29,448 shares, a decline of 44.1% from the July 30th total of 52,703 shares. Based on an average daily volume of 15,949 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Orangekloud Technology in a research report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Orangekloud Technology currently has an average rating of “Reduce”.

Hedge Funds Weigh In On Orangekloud Technology

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

Orangekloud Technology Stock Performance

Shares of NASDAQ ORKT traded down $0.03 during mid-day trading on Friday, reaching $0.97. 165,866 shares of the company traded hands, compared to its average volume of 184,912. Orangekloud Technology has a fifty-two week low of $0.62 and a fifty-two week high of $2.90. The stock has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.43 and a quick ratio of 2.43.

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.