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

Sound Group Inc. (NASDAQ:SOGP) was the target of a large 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. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sound Group stock. Renaissance Technologies LLC purchased a new position in Sound Group Inc. (NASDAQ:SOGP) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,158 shares of the company’s stock, valued at approximately $31,000. Renaissance Technologies LLC owned 0.29% of Sound Group at the end of the most recent reporting period. 1.62% of the stock is owned by institutional investors and hedge funds.

Sound Group Trading Down 1.5 %

Shares of SOGP traded down $0.02 during trading hours on Friday, reaching $1.61. The company had a trading volume of 4,161 shares, compared to its average volume of 299,613. Sound Group has a 12-month low of $1.56 and a 12-month high of $6.70. The firm has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $2.57. The company has a market capitalization of $8.31 million, a price-to-earnings ratio of 1.62 and a beta of 1.66.

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.