Short Interest in Chijet Motor Company, Inc. (NASDAQ:DCX) Declines By 78.4%

Chijet Motor Company, Inc. (NASDAQ:DCX) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 125,635 shares, a decrease of 78.4% from the July 30th total of 581,799 shares. Based on an average daily trading volume, of 70,288 shares, the days-to-cover ratio is presently 1.8 days. Approximately 62.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Chijet Motor in a report on Monday, July 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Chijet Motor has a consensus rating of “Sell”.

Chijet Motor Price Performance

DCX stock traded down $0.12 during midday trading on Thursday, reaching $0.74. The company’s stock had a trading volume of 122,206 shares, compared to its average volume of 468,690. Chijet Motor has a 52 week low of $0.63 and a 52 week high of $2,136.00. The business’s 50-day simple moving average is $1.04 and its 200-day simple moving average is $1.74.

Insider Buying and Selling

In other news, CEO Melissa N. Chen acquired 41,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $51,250.00. Following the transaction, the chief executive officer owned 41,000 shares of the company’s stock, valued at approximately $51,250. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.04% of the company’s stock.

Chijet Motor Company Profile

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.