Short interest in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) down 38.2%

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT – Get Rating ) saw a large drop in short interest in the month of June. On June 30th, there was short interest totaling 2,560,000 shares, a decrease of 38.2% from June 15th’s total of 4,140,000 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 1,710,000 shares, the days-to-cover ratio is currently 1.5 days.

OneConnect Financial Technology Stock Performance

NYSE OCFT traded up $0.04 on Friday, reaching $1.80. The company’s stock had a trading volume of 841,213 shares, compared to its average volume of 1,558,505. The business has a 50-day moving average price of $1.55 and a 200-day moving average price of $1.63. OneConnect Financial Technology has a 52-week low of $0.99 and a 52-week high of $10.77.

OneConnect Financial Technology (NYSE:OCFT – Get Rating ) last issued its quarterly earnings data on Wednesday, May 25th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $138.62 million. OneConnect Financial Technology had a negative net margin of 29.89% and a negative return on equity of 31.20%. During the same period last year, the firm earned ($0.13) earnings per share. As a group, research analysts anticipate that OneConnect Financial Technology will post -0.46 earnings per share for the current fiscal year.

Hedge funds weigh in on OneConnect financial technology

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Large investors have recently modified their holdings of the stock. Itau Unibanco Holding SA raised its position in shares of OneConnect Financial Technology by 303.7% during the fourth quarter. Itau Unibanco Holding SA now owns 19,889 shares of the company’s stock valued at $50,000 after buying an additional 14,962 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of OneConnect Financial Technology during the 1st quarter valued at $35,000. XTX Topco Ltd acquired a new stake in shares of OneConnect Financial Technology during the 1st quarter valued at $41,000. GSA Capital Partners LLP bought a new stake in shares of OneConnect Financial Technology during the fourth quarter valued at $90,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of OneConnect Financial Technology by 573.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 36,547 shares of the company’s stock worth $90,000 after purchasing an additional 31,118 shares during the period. 14.91% of the shares are currently owned by institutional investors and hedge funds.

About OneConnect Financial Technology

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OneConnect Financial Technology Co., Ltd. provides cloud platform-based Fintech solutions, and online information and operational support services for financial institutions in the People’s Republic of China. It offers digital retail banking, digital commercial banking, digital auto and life insurance, and artificial intelligence customer services, as well as sales management, risk management and operations support services.

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