Short Interest in Chijet Motor Company, Inc. (NASDAQ:CJET) Drops By 98.7%

Chijet Motor Company, Inc. (NASDAQ:CJET) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 12,100 shares, a decline of 98.7% from the June 15th total of 904,300 shares. Based on an average daily volume of 33,600 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are sold short.

Chijet Motor Stock Down 5.3 %

Shares of Chijet Motor stock traded down $0.28 on Thursday, reaching $4.99. The stock had a trading volume of 24,593 shares, compared to its average volume of 18,988. Chijet Motor has a 1 year low of $4.58 and a 1 year high of $155.40. The company has a 50 day moving average price of $0.70 and a 200 day moving average price of $0.56.

Chijet Motor shares are going to reverse split on Wednesday, July 31st. The 1-30 reverse split was announced on Friday, June 28th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, July 30th.

Institutional Trading of Chijet Motor

An institutional investor recently raised its position in Chijet Motor stock. Walleye Trading LLC raised its holdings in Chijet Motor Company, Inc. (NASDAQ:CJET) by 772.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 500,134 shares of the company’s stock after buying an additional 442,784 shares during the quarter. Walleye Trading LLC owned about 2.75% of Chijet Motor worth $835,000 at the end of the most recent reporting period.

About Chijet Motor

Chijet Motor Company, Inc engages in the research and development, production, and sale of new energy vehicles. It offers battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. The company was founded in 2021 and is based in Grand Cayman, the Cayman Islands.