OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) Sees Large Increase in Short Interest

OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 57,500 shares, an increase of 296.6% from the August 31st total of 14,500 shares. Based on an average daily volume of 13,700 shares, the short-interest ratio is presently 4.2 days. Currently, 0.2% of the company’s stock are short sold.

OneConnect Financial Technology Stock Performance

OCFT stock traded down $0.05 during midday trading on Wednesday, reaching $1.34. 8,188 shares of the company were exchanged, compared to its average volume of 17,509. OneConnect Financial Technology has a 1-year low of $0.87 and a 1-year high of $3.40. The company has a market cap of $52.26 million, a price-to-earnings ratio of -0.94 and a beta of 0.60. The stock’s 50-day simple moving average is $1.40 and its 200 day simple moving average is $1.80.

OneConnect Financial Technology (NYSE:OCFT) last issued its quarterly earnings results on Friday, August 16th. The company reported ($0.06) earnings per share for the quarter. The business had revenue of $95.64 million for the quarter. OneConnect Financial Technology had a negative return on equity of 8.09% and a negative net margin of 1.09%.

Hedge Funds Weigh In On OneConnect Financial Technology

An institutional investor recently bought a new position in OneConnect Financial Technology stock. M&G Plc acquired a new position in OneConnect Financial Technology Co., Ltd. (NYSE:OCFT) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,324,592 shares of the company’s stock, valued at approximately $2,941,000. M&G Plc owned approximately 3.40% of OneConnect Financial Technology at the end of the most recent reporting period. Institutional investors own 4.05% of the company’s stock.

About OneConnect Financial Technology

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It operates in Technology Solutions and Virtual Bank Business segments. The company offers Gamma Platform, which offers a toolbox of separate solution modules that provide technology infrastructure and underlying technologies; marketing management platform, developed from AI Banker App, provides banks relationship managers with technology that supports in managing their acquisition and relationships with retail customers; and wealth management platform that provides banks with tools to enhance the efficiency of their wealth management business.