Zhihu Inc. (NYSE:ZH) Sees Significant Drop in Short Interest

Zhihu Inc. (NYSE:ZH) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,480,000 shares, a drop of 16.4% from the November 30th total of 1,770,000 shares. Based on an average daily trading volume, of 430,700 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.8% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Citigroup decreased their price objective on Zhihu from $5.40 to $4.70 and set a “buy” rating for the company in a report on Friday, November 29th.

Zhihu Stock Up 3.1 %

Shares of NYSE:ZH traded up $0.11 during trading on Friday, reaching $3.71. 249,040 shares of the company traded hands, compared to its average volume of 349,525. Zhihu has a 1-year low of $2.55 and a 1-year high of $5.86. The firm has a market cap of $323.95 million, a P/E ratio of -6.63 and a beta of 0.21. The firm has a fifty day simple moving average of $3.63 and a 200 day simple moving average of $3.41.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in shares of Zhihu during the 2nd quarter valued at about $740,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Zhihu during the third quarter worth approximately $317,000. Walleye Capital LLC bought a new position in shares of Zhihu in the third quarter valued at approximately $212,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Zhihu in the third quarter worth $27,000. Finally, Jane Street Group LLC boosted its holdings in shares of Zhihu by 65.1% during the 3rd quarter. Jane Street Group LLC now owns 175,381 shares of the company’s stock worth $675,000 after buying an additional 69,160 shares during the period. Institutional investors and hedge funds own 28.92% of the company’s stock.

About Zhihu

Zhihu Inc operates an online content community in the People’s Republic of China. Its community allows people to seek inspiration, find solutions, make decisions, and have fun. The company offers technology, business support, and consulting services; information transmission, software, and information technology services.