Sound Group Inc. (NASDAQ:SOGP) Sees Significant Increase in Short Interest

Sound Group Inc. (NASDAQ:SOGP) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 16,800 shares, an increase of 354.1% from the December 31st total of 3,700 shares. Based on an average daily trading volume, of 24,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the shares of the stock are short sold.

Sound Group Price Performance

Shares of SOGP stock traded down $0.07 on Tuesday, hitting $2.03. 50,411 shares of the company’s stock were exchanged, compared to its average volume of 49,767. Sound Group has a 12 month low of $1.49 and a 12 month high of $6.70. The company has a 50 day moving average of $1.93 and a 200 day moving average of $1.92.

Institutional Trading of Sound Group

An institutional investor recently bought a new position in Sound Group stock. Renaissance Technologies LLC bought a new position in Sound Group Inc. (NASDAQ:SOGP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 15,158 shares of the company’s stock, valued at approximately $31,000. Renaissance Technologies LLC owned approximately 0.29% of Sound Group as of its most recent SEC filing. Hedge funds and other institutional investors own 1.62% of the company’s stock.

Sound Group Company Profile

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.