SK hynix Inc. (NASDAQ:SKHY) Sees Large Increase in Short Interest

SK hynix Inc. (NASDAQ:SKHY) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 22,517,398 shares, a growth of 51.6% from the July 15th total of 14,857,954 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 45,658,865 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on SKHY shares. Stifel Nicolaus began coverage on shares of SK hynix in a report on Tuesday, August 4th. They issued a “buy” rating and a $240.00 price target on the stock. Rosenblatt Securities began coverage on shares of SK hynix in a research note on Tuesday, August 4th. They issued a “buy” rating and a $320.00 target price on the stock. Wedbush raised shares of SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Zacks Research raised SK hynix to a “hold” rating in a report on Friday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $245.50.

SK hynix Stock Down 7.0%

Shares of SKHY traded down $11.94 during trading hours on Tuesday, hitting $159.44. The stock had a trading volume of 7,540,248 shares, compared to its average volume of 39,050,832. SK hynix has a 52 week low of $124.80 and a 52 week high of $194.80.

SK hynix (NASDAQ:SKHY) last announced its quarterly earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The firm had revenue of $51.19 billion for the quarter. Equities analysts expect that SK hynix will post 25.48 earnings per share for the current fiscal year.

SK hynix Company Profile

SK hynix Inc is a South Korea-based semiconductor company that develops, manufactures, and sells memory products used in a wide range of electronic devices and computing systems. Its portfolio includes DRAM, NAND flash, and other memory solutions that support applications such as servers, PCs, mobile devices, and consumer electronics.

The company serves customers globally through the semiconductor supply chain and is recognized as one of the major memory chip producers in the industry.