Treasure Global Inc. (NASDAQ:TGL) Shares Shorted: Short Interest Up 346.7% in October

Treasure Global Inc. (NASDAQ:TGL) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 1,380,310 shares, an increase of 346.7% from the September 30th total of 308,998 shares. Based on an average trading volume of 19,935,013 shares, the days-to-cover ratio is currently 0.1 days. Approximately 28.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Treasure Global in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell”.

Treasure Global Stock Up 3.1%

Shares of TGL opened at $0.25 on Wednesday. Treasure Global has a 52-week low of $0.19 and a 52-week high of $58.00. The firm’s fifty day moving average is $1.78 and its two-hundred day moving average is $3.61.

About Treasure Global

Treasure Global Inc is a technology company focused on e-commerce, digital payments and customer loyalty solutions. The company operates ZCITY, a digital platform designed to connect consumers with merchants through payment services, rewards and lifestyle-related offerings.

Through its platform, Treasure Global provides tools intended to support online transactions, merchant engagement and consumer savings. ZCITY has offered services such as digital payments, loyalty rewards, promotional deals and access to products and services from participating merchants.

Treasure Global is headquartered in Malaysia and has focused primarily on serving consumers and businesses in the Malaysian market.