Zhibao Technology Inc. (NASDAQ:ZBAO) Sees Significant Decrease in Short Interest

Zhibao Technology Inc. (NASDAQ:ZBAO) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 115,867 shares, a decline of 82.2% from the September 30th total of 650,165 shares. Based on an average daily trading volume, of 1,084,082 shares, the days-to-cover ratio is currently 0.1 days. Currently, 17.6% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

ZBAO has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Zhibao Technology in a report on Friday, October 2nd. Wall Street Zen raised shares of Zhibao Technology to a “sell” rating in a report on Saturday, October 17th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Zhibao Technology Stock Down 22.7%

Shares of ZBAO stock opened at $0.33 on Tuesday. The stock has a fifty day moving average of $5.44 and a 200 day moving average of $27.19. Zhibao Technology has a 52 week low of $0.31 and a 52 week high of $67.00.

About Zhibao Technology

Zhibao Technology Inc is an insurance technology company based in China. Through its digital platform and related services, the company focuses on insurance brokerage and the distribution of commercial property and casualty insurance products.

Zhibao Technology works with businesses and insurance providers to support the design, placement and servicing of insurance coverage. Its technology-based model is intended to streamline insurance transactions and help commercial customers access insurance products through digital channels.

The company operates primarily in the Chinese insurance market.