Short Interest in Cuentas Inc. (NASDAQ:CUEN) Drops By 58.0%

Cuentas Inc. (NASDAQ:CUEN) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 17,000 shares, a drop of 58.0% from the December 15th total of 40,500 shares. Based on an average daily volume of 83,900 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.3% of the company’s stock are short sold.

A number of institutional investors have recently modified their holdings of CUEN. Spire Wealth Management bought a new stake in Cuentas during the fourth quarter worth $95,000. Geode Capital Management LLC purchased a new stake in Cuentas in the second quarter worth $385,000. Platform Technology Partners increased its position in Cuentas by 126.7% in the third quarter. Platform Technology Partners now owns 95,219 shares of the company’s stock worth $275,000 after buying an additional 53,219 shares during the last quarter. Morgan Stanley purchased a new position in shares of Cuentas in the third quarter valued at $103,000. Finally, Vanguard Group Inc. purchased a new position in shares of Cuentas in the second quarter valued at $151,000. Institutional investors and hedge funds own 2.77% of the company’s stock.

CUEN stock opened at $1.22 on Friday. Cuentas has a twelve month low of $1.15 and a twelve month high of $9.25. The stock’s 50 day moving average is $1.90 and its 200-day moving average is $2.81.

About Cuentas

Cuentas, Inc is a financial technology company, which focuses on the business of using proprietary technology to provide e-banking and e-commerce services delivering mobile banking, online banking, prepaid debit and digital content services to the unbanked, underbanked and underserved communities. It operates through the Telecommunications and General Purpose Reloadable Cards segments.

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