Jianpu Technology Inc – (NYSE:JT) Sees Significant Drop in Short Interest

Jianpu Technology Inc – (NYSE:JT) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,850,000 shares, a decrease of 8.0% from the April 30th total of 2,010,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 123,900 shares, the days-to-cover ratio is presently 14.9 days.

NYSE JT traded down $0.01 during trading on Friday, hitting $0.72. 103,517 shares of the company’s stock traded hands, compared to its average volume of 143,036. Jianpu Technology has a 12-month low of $0.60 and a 12-month high of $5.06. The business has a 50 day moving average of $0.80 and a 200-day moving average of $1.28.

Jianpu Technology (NYSE:JT) last announced its quarterly earnings results on Monday, March 23rd. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.57). Jianpu Technology had a negative net margin of 21.63% and a negative return on equity of 24.98%. The company had revenue of $41.61 million for the quarter, compared to the consensus estimate of $157.83 million. As a group, equities research analysts anticipate that Jianpu Technology will post -0.13 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Jianpu Technology by 1.3% during the first quarter. Morgan Stanley now owns 10,929,543 shares of the company’s stock valued at $9,181,000 after buying an additional 139,140 shares during the period. Renaissance Technologies LLC increased its position in shares of Jianpu Technology by 13.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,412,073 shares of the company’s stock valued at $2,104,000 after buying an additional 164,678 shares during the period. State Street Corp increased its position in shares of Jianpu Technology by 21.9% during the first quarter. State Street Corp now owns 232,009 shares of the company’s stock valued at $195,000 after buying an additional 41,648 shares during the period. Virtu Financial LLC bought a new position in shares of Jianpu Technology in the fourth quarter worth approximately $41,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Jianpu Technology in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 18.26% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of Jianpu Technology from a “buy” rating to a “hold” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Jianpu Technology currently has an average rating of “Hold” and an average target price of $1.00.

About Jianpu Technology

Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.

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