Short Interest in Sound Group Inc. (NASDAQ:SOGP) Grows By 202.9%

Sound Group Inc. (NASDAQ:SOGP) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 10,600 shares, an increase of 202.9% from the August 15th total of 3,500 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is presently 1.2 days.

Sound Group Stock Performance

Shares of SOGP stock traded down $0.05 on Thursday, reaching $1.63. 1,935 shares of the company were exchanged, compared to its average volume of 301,298. Sound Group has a 1 year low of $1.56 and a 1 year high of $6.70. The business has a 50-day moving average price of $1.98 and a 200 day moving average price of $2.59. The company has a market cap of $8.45 million, a price-to-earnings ratio of 1.65 and a beta of 1.66.

Institutional Investors Weigh In On Sound Group

A hedge fund recently bought a new stake in Sound Group stock. Renaissance Technologies LLC purchased a new position in Sound Group Inc. (NASDAQ:SOGP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,158 shares of the company’s stock, valued at approximately $31,000. Renaissance Technologies LLC owned about 0.29% of Sound Group at the end of the most recent reporting period. Institutional investors and hedge funds own 1.62% of the company’s stock.

About Sound Group

Sound Group Inc operates as an audio-centric social and entertainment company. It focuses on building audio platform to connect and communicate. The company, through its product portfolio and in-house technologies, caters to user interest in audio entertainment and social networking. The company was formerly known as LIZHI INC.