Xiaomi Co. (OTCMKTS:XIACF) Sees Large Growth in Short Interest

Xiaomi Co. (OTCMKTS:XIACF) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 136,978,391 shares, an increase of 71.1% from the December 31st total of 80,043,727 shares. Based on an average daily trading volume, of 280,098 shares, the days-to-cover ratio is presently 489.0 days. Based on an average daily trading volume, of 280,098 shares, the days-to-cover ratio is presently 489.0 days.

Xiaomi Stock Down 2.2%

Shares of Xiaomi stock opened at $4.54 on Friday. The business has a 50-day simple moving average of $5.04 and a 200 day simple moving average of $6.05. Xiaomi has a one year low of $4.15 and a one year high of $9.00.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded shares of Xiaomi from a “buy” rating to a “hold” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

About Xiaomi

Xiaomi Corporation, founded in April 2010 by entrepreneur Lei Jun and a group of partners, is a Chinese multinational electronics company headquartered in Beijing. The company began with the launch of its proprietary MIUI operating system and quickly expanded into hardware design and manufacturing. Over the past decade, Xiaomi has established itself as one of the world’s leading smartphone vendors, focusing on delivering high-performance devices at competitive price points.

In addition to its core smartphone business, Xiaomi operates two main hardware sub-brands: Mi and Redmi.