Chinanet Online Holdings Inc (NASDAQ:CNET) Short Interest Down 12.5% in July

Chinanet Online Holdings Inc (NASDAQ:CNET) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 430,000 shares, a decline of 12.5% from the June 30th total of 491,300 shares. Based on an average daily volume of 51,900 shares, the short-interest ratio is currently 8.3 days. Approximately 4.1% of the company’s stock are short sold.

An institutional investor recently bought a new position in Chinanet Online stock. Virtu Financial LLC acquired a new stake in shares of Chinanet Online Holdings Inc (NASDAQ:CNET) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 34,899 shares of the business services provider’s stock, valued at approximately $68,000. Virtu Financial LLC owned approximately 0.22% of Chinanet Online as of its most recent filing with the Securities & Exchange Commission. 1.12% of the stock is currently owned by institutional investors and hedge funds.

CNET traded up $0.06 on Wednesday, reaching $1.34. 444 shares of the company traded hands, compared to its average volume of 248,790. The business has a 50 day moving average price of $1.36. Chinanet Online has a 52-week low of $1.02 and a 52-week high of $3.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44.

Chinanet Online (NASDAQ:CNET) last announced its quarterly earnings data on Monday, May 20th. The business services provider reported ($0.07) EPS for the quarter. Chinanet Online had a negative net margin of 25.64% and a negative return on equity of 89.30%. The company had revenue of $8.57 million for the quarter.

Chinanet Online Company Profile

ChinaNet Online Holdings, Inc, through its subsidiaries, operates an integrated service platform that provides advertising and marketing services in the People's Republic of China. Its platform comprises CloundX, an omni-channel advertising and marketing system; and a data analysis management system.

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