Zhibao Technology Inc. (NASDAQ:ZBAO) Sees Significant Decrease in Short Interest

Zhibao Technology Inc. (NASDAQ:ZBAO) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 115,867 shares, a decline of 82.2% from the September 30th total of 650,165 shares. Based on an average daily trading volume, of 1,084,082 shares, the short-interest ratio is presently 0.1 days. Approximately 17.6% of the shares of the stock are short sold.

Zhibao Technology Trading Down 22.7%

Shares of NASDAQ:ZBAO opened at $0.33 on Tuesday. The company’s fifty day moving average is $5.44 and its 200 day moving average is $27.19. Zhibao Technology has a 52 week low of $0.31 and a 52 week high of $67.00.

Analyst Ratings Changes

Several analysts have recently weighed in on ZBAO shares. Wall Street Zen upgraded shares of Zhibao Technology to a “sell” rating in a research report on Saturday, October 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Zhibao Technology in a report on Friday, October 2nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Zhibao Technology

Zhibao Technology Inc is an insurance technology company based in China. Through its digital platform and related services, the company focuses on insurance brokerage and the distribution of commercial property and casualty insurance products.

Zhibao Technology works with businesses and insurance providers to support the design, placement and servicing of insurance coverage. Its technology-based model is intended to streamline insurance transactions and help commercial customers access insurance products through digital channels.

The company operates primarily in the Chinese insurance market.