Short Interest in Luokung Technology Corp. (NASDAQ:LKCO) Declines By 30.7%

Luokung Technology Corp. (NASDAQ:LKCO) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 41,900 shares, a drop of 30.7% from the January 31st total of 60,500 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 71,900 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Luokung Technology stock. Citadel Advisors LLC purchased a new stake in shares of Luokung Technology Corp. (NASDAQ:LKCO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 37,691 shares of the company’s stock, valued at approximately $69,000. Citadel Advisors LLC owned 0.55% of Luokung Technology at the end of the most recent reporting period. 14.62% of the stock is owned by hedge funds and other institutional investors.

Luokung Technology Price Performance

Shares of LKCO traded down $0.01 during mid-day trading on Tuesday, hitting $1.60. 7,189 shares of the company’s stock traded hands, compared to its average volume of 26,553. The business’s 50-day moving average price is $1.86 and its 200-day moving average price is $2.40. Luokung Technology has a 1 year low of $1.43 and a 1 year high of $7.68.

Luokung Technology Company Profile

Luokung Technology Corp., together with its subsidiaries, engages in the provision of location-based services and mobile application products for long distance rail travelers in the People’s Republic of China. It offers Luokuang mobile application, which provides business to customer (B2C) location-based services; and SuperEngine that offers business to business (B2B) and business to government (B2G) services in connection with spatial-temporal big data processing.