Simpple Ltd. (NASDAQ:SPPL) Stock Short Interest Jumps 658.7%

Simpple Ltd. (NASDAQ:SPPL) saw a large increase in short interest in October. As of October 30th, there was short interest totaling 19,103 shares, an increase of 658.7% from the October 15th total of 2,518 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 26,601 shares, the days-to-cover ratio is currently 0.7 days.

Insider Buying and Selling at Simpple

In other news, CTO Qikai Soo sold 47,171 shares of Simpple stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $2.58, for a total transaction of $121,701.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kelvin Soon Sze Lee sold 189,309 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $1.43, for a total transaction of $270,711.87. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 299,375 shares of company stock worth $554,681 in the last three months.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Simpple stock. Susquehanna International Group LLP purchased a new stake in Simpple Ltd. (NASDAQ:SPPL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 29,444 shares of the company’s stock, valued at approximately $115,000. Susquehanna International Group LLP owned 0.51% of Simpple as of its most recent filing with the SEC. Institutional investors own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

SPPL has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Simpple from a “sell” rating to a “hold” rating in a research report on Sunday, September 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Simpple in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Simpple currently has an average rating of “Sell”.

Simpple Trading Up 1.3%

Shares of Simpple stock opened at $2.67 on Wednesday. Simpple has a 52 week low of $1.50 and a 52 week high of $5.36. The business’s fifty day simple moving average is $2.09 and its 200-day simple moving average is $2.64. The company has a quick ratio of 1.34, a current ratio of 1.46 and a debt-to-equity ratio of 0.04.

Simpple (NASDAQ:SPPL) last released its quarterly earnings results on Saturday, October 31st. The company reported ($0.11) earnings per share for the quarter. The firm had revenue of $1.96 million during the quarter.

About Simpple

Simpple Ltd. is a Singapore-based technology company that develops artificial intelligence and Internet of Things solutions for smart building management. Its software is designed to help building owners and facility managers monitor and improve the operation of commercial properties and other managed spaces. The company’s platform integrates data from sensors, connected devices and other building systems to provide insights into occupancy, space utilization, environmental conditions and facility operations.