OneConstruction Group Limited (NASDAQ:ONEG) Sees Significant Decline in Short Interest

OneConstruction Group Limited (NASDAQ:ONEG) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 61,142 shares, a decrease of 56.7% from the March 15th total of 141,291 shares. Based on an average trading volume of 634,571 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in OneConstruction Group stock. XTX Topco Ltd purchased a new position in shares of OneConstruction Group Limited (NASDAQ:ONEG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,794 shares of the company’s stock, valued at approximately $31,000. XTX Topco Ltd owned about 0.18% of OneConstruction Group as of its most recent SEC filing.

OneConstruction Group Trading Down 4.1%

Shares of ONEG traded down $0.16 during mid-day trading on Monday, reaching $3.71. The company’s stock had a trading volume of 1,029,627 shares, compared to its average volume of 528,485. OneConstruction Group has a 12-month low of $0.96 and a 12-month high of $13.50. The company’s 50 day moving average is $2.46 and its 200 day moving average is $4.41.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen upgraded OneConstruction Group to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of OneConstruction Group in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, OneConstruction Group presently has a consensus rating of “Sell”.

About OneConstruction Group

OneConstruction Group is a structural steelwork contractor principally in Hong Kong. The Company, through its subsidiaries, specializes in the procurement and installation of structural steel for a diverse range of construction projects, serving both public and private sector clients. OneConstruction Group is based in NEW YORK.