Short Interest in Oriental Culture Holding LTD (NASDAQ:OCG) Drops By 48.8%

Oriental Culture Holding LTD (NASDAQ:OCG) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 131,046 shares, a drop of 48.8% from the May 14th total of 255,959 shares. Currently, 29.7% of the company’s stock are sold short. Based on an average daily volume of 148,891 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Oriental Culture from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Oriental Culture has a consensus rating of “Sell”.

Oriental Culture Stock Down 3.7%

Shares of NASDAQ:OCG traded down $0.08 during trading on Friday, reaching $2.11. The stock had a trading volume of 138,010 shares, compared to its average volume of 737,609. Oriental Culture has a 52 week low of $1.50 and a 52 week high of $12,731.40. The firm’s fifty day moving average is $1.95.

Oriental Culture (NASDAQ:OCG) last released its quarterly earnings results on Thursday, May 14th. The company reported $9.08 EPS for the quarter. The firm had revenue of $0.87 million during the quarter.

Oriental Culture Company Profile

Oriental Culture Holding LTD, through its subsidiaries, operates an online platform to facilitate e-commerce of artwork trading in China. The company facilitates trading by individual and institutional customers of various collectibles, artworks, and commodities on its online platforms. It also provides online and offline integrated marketing, storage, and technical maintenance services, as well as industry solutions and related software products and system development services. The company was founded in 2018 and is headquartered in Central, Hong Kong.