Scienture Holdings, Inc. (NASDAQ:SCNX) Sees Significant Growth in Short Interest

Scienture Holdings, Inc. (NASDAQ:SCNX) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 2,600,386 shares, an increase of 177.8% from the June 30th total of 935,988 shares. Currently, 8.1% of the company’s shares are short sold. Based on an average daily volume of 7,329,646 shares, the days-to-cover ratio is currently 0.4 days.

Scienture Price Performance

SCNX stock traded down $0.01 during mid-day trading on Monday, hitting $0.36. 407,668 shares of the stock were exchanged, compared to its average volume of 2,208,575. The stock has a market capitalization of $14.71 million, a price-to-earnings ratio of -0.14 and a beta of 3.28. The business has a fifty day moving average price of $0.38 and a 200 day moving average price of $0.41. Scienture has a 12 month low of $0.24 and a 12 month high of $2.60.

Scienture (NASDAQ:SCNX) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.15. The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.40 million.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scienture in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Scienture presently has a consensus rating of “Hold” and a consensus target price of $1.50.

Hedge Funds Weigh In On Scienture

An institutional investor recently raised its position in Scienture stock. Geode Capital Management LLC boosted its stake in Scienture Holdings, Inc. (NASDAQ:SCNX) by 264.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,201 shares of the company’s stock after purchasing an additional 229,398 shares during the period. Geode Capital Management LLC owned about 0.78% of Scienture worth $161,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.68% of the company’s stock.

About Scienture

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.