Luokung Technology Corp. (NASDAQ:LKCO) Sees Large Decrease in Short Interest

by · The Cerbat Gem

Luokung Technology Corp. (NASDAQ:LKCO – Get Free Report) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 61,800 shares, a drop of 28.6% from the October 15th total of 86,500 shares. Based on an average daily volume of 49,800 shares, the days-to-cover ratio is currently 1.2 days. Currently, 3.3% of the company’s shares are sold short.

Luokung Technology Stock Performance

Shares of LKCO stock traded down $0.03 during mid-day trading on Thursday, reaching $1.66. The company’s stock had a trading volume of 18,266 shares, compared to its average volume of 22,093. The company’s 50 day simple moving average is $2.63 and its 200-day simple moving average is $4.36. Luokung Technology has a 12-month low of $1.57 and a 12-month high of $8.00.

About Luokung Technology

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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.

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