Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) Sees Large Decline in Short Interest

Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 34,010 shares, a drop of 50.2% from the September 30th total of 68,329 shares. Approximately 28.3% of the company’s stock are short sold. Based on an average trading volume of 37,661 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Trident Digital Tech

An institutional investor recently raised its stake in Trident Digital Tech stock. Renaissance Technologies LLC grew its holdings in shares of Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) by 547.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 424,000 shares of the company’s stock after acquiring an additional 358,513 shares during the period. Renaissance Technologies LLC owned about 326.15% of Trident Digital Tech worth $81,000 as of its most recent SEC filing.

Trident Digital Tech Trading Up 1.9%

Shares of TDTH stock traded up $0.01 on Monday, hitting $0.71. The company’s stock had a trading volume of 3,049 shares, compared to its average volume of 467,140. Trident Digital Tech has a fifty-two week low of $0.56 and a fifty-two week high of $22.65. The stock’s 50 day moving average is $1.33 and its 200-day moving average is $715.61.

Trident Digital Tech (NASDAQ:TDTH) last announced its earnings results on Friday, October 16th. The company reported ($1.38) EPS for the quarter. The firm had revenue of $0.19 million for the quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Trident Digital Tech to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings lowered Trident Digital Tech from a “sell (e+)” rating to a “sell (e-)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Trident Digital Tech currently has an average rating of “Sell”.

About Trident Digital Tech

Trident Digital Tech Holdings Limited is a technology company focused on providing digital transformation solutions. Its services are intended to help businesses modernize their technology infrastructure, improve operational efficiency and adopt digitally enabled business processes.

The company’s offerings include technology and managed services supporting areas such as cloud computing, cybersecurity, data management and other enterprise digital solutions. These services are designed to assist organizations with the deployment, management and ongoing optimization of their digital systems.

Publicly available information about Trident Digital Tech Holdings Limited’s leadership, operating history and geographic markets is limited.