Short Interest in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Rises By 150.0%

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 14,500 shares, an increase of 150.0% from the August 15th total of 5,800 shares. Based on an average trading volume of 12,600 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Investors Weigh In On OneConnect Financial Technology

An institutional investor recently bought a new position in OneConnect Financial Technology stock. M&G Plc bought a new stake in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,324,592 shares of the company’s stock, valued at approximately $2,941,000. M&G Plc owned 3.40% of OneConnect Financial Technology as of its most recent SEC filing. Institutional investors and hedge funds own 4.05% of the company’s stock.

OneConnect Financial Technology Trading Up 12.4 %

NYSE OCFT traded up $0.13 on Thursday, hitting $1.18. The company’s stock had a trading volume of 24,820 shares, compared to its average volume of 17,588. OneConnect Financial Technology has a 52-week low of $0.87 and a 52-week high of $3.84. The company’s 50-day simple moving average is $1.49 and its 200 day simple moving average is $1.86. The firm has a market cap of $46.02 million, a P/E ratio of -0.86 and a beta of 0.60.

OneConnect Financial Technology (NYSE:OCFT) last released its quarterly earnings data on Friday, August 16th. The company reported ($0.06) earnings per share for the quarter. OneConnect Financial Technology had a negative return on equity of 8.09% and a negative net margin of 1.09%. The business had revenue of $95.64 million during the quarter.

OneConnect Financial Technology Company Profile

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.