LeddarTech Holdings Inc. (NASDAQ:LDTC) Sees Significant Drop in Short Interest

LeddarTech Holdings Inc. (NASDAQ:LDTC) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 304,100 shares, a decrease of 88.8% from the December 31st total of 2,710,000 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average daily volume of 7,520,000 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of LeddarTech

A hedge fund recently bought a new stake in LeddarTech stock. Clear Street Derivatives LLC purchased a new position in shares of LeddarTech Holdings Inc. (NASDAQ:LDTC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 286,746 shares of the company’s stock, valued at approximately $85,000. LeddarTech makes up approximately 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 22nd biggest position. Clear Street Derivatives LLC owned 0.97% of LeddarTech at the end of the most recent quarter. 9.62% of the stock is owned by institutional investors and hedge funds.

LeddarTech Stock Performance

NASDAQ:LDTC traded up $0.02 during mid-day trading on Tuesday, reaching $1.01. The stock had a trading volume of 247,511 shares, compared to its average volume of 1,732,059. The business has a 50 day simple moving average of $0.99 and a 200 day simple moving average of $0.63. LeddarTech has a twelve month low of $0.22 and a twelve month high of $4.35. The firm has a market capitalization of $29.06 million, a price-to-earnings ratio of -0.07 and a beta of -1.67.

LeddarTech (NASDAQ:LDTC) last announced its quarterly earnings data on Wednesday, December 18th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). As a group, sell-side analysts expect that LeddarTech will post -0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm boosted their price objective on shares of LeddarTech from $1.00 to $3.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th.

LeddarTech Company Profile

LeddarTech Holdings Inc provides AI-based fusion and perception software solutions for advanced driver assistance solutions and autonomous driving applications in Canada. It offers LeddarVision, a raw sensor fusion and perception platform for automotive and off-road industrial vehicles. The company was founded in 2007 and is based in Quebec City, Canada.