Short Interest in Xiaomi Co. (OTCMKTS:XIACF) Drops By 38.7%

Xiaomi Co. (OTCMKTS:XIACF) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 111,513,914 shares, a drop of 38.7% from the June 30th total of 182,020,228 shares. Based on an average daily volume of 81,100 shares, the short-interest ratio is currently 1,375.0 days.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered shares of Xiaomi from a “hold” rating to an “underperform” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Xiaomi Price Performance

Shares of OTCMKTS:XIACF opened at $4.04 on Thursday. Xiaomi has a 1-year low of $2.52 and a 1-year high of $7.86. The business’s 50 day moving average is $3.35 and its 200-day moving average is $3.98.

Xiaomi Company Profile

Xiaomi Corporation, founded in April 2010 by entrepreneur Lei Jun and a group of partners, is a Chinese multinational electronics company headquartered in Beijing. The company began with the launch of its proprietary MIUI operating system and quickly expanded into hardware design and manufacturing. Over the past decade, Xiaomi has established itself as one of the world’s leading smartphone vendors, focusing on delivering high-performance devices at competitive price points.

In addition to its core smartphone business, Xiaomi operates two main hardware sub-brands: Mi and Redmi.