Cuentas Inc. (NASDAQ:CUEN) Sees Significant Growth in Short Interest

Cuentas Inc. (NASDAQ:CUEN – Get Rating) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 224,600 shares, an increase of 9.8% from the February 13th total of 204,500 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Cuentas

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in shares of Cuentas in the first quarter valued at approximately $65,000. Platform Technology Partners bought a new stake in shares of Cuentas in the fourth quarter valued at $91,000. Finally, Armistice Capital LLC purchased a new position in shares of Cuentas in the third quarter valued at $860,000. Institutional investors and hedge funds own 9.66% of the company’s stock.

Cuentas Stock Performance

Cuentas stock opened at $0.55 on Wednesday. Cuentas has a 12 month low of $0.15 and a 12 month high of $2.44. The stock has a 50-day moving average price of $0.78 and a two-hundred day moving average price of $0.54.

Cuentas Company Profile

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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.