SemiLEDs Co. (NASDAQ:LEDS) Sees Significant Growth in Short Interest

Posted by Ethan Ryder on Nov 16th, 2024

SemiLEDs Co. (NASDAQ:LEDS – Get Free Report) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,700 shares, a growth of 58.8% from the October 15th total of 1,700 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 179,700 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of SemiLEDs in a report on Monday, November 11th. They set a “sell” rating on the stock.

Check Out Our Latest Analysis on SemiLEDs

Institutional Inflows and Outflows

An institutional investor recently bought a new position in SemiLEDs stock. Garden State Investment Advisory Services LLC acquired a new position in shares of SemiLEDs Co. (NASDAQ:LEDS – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 377,201 shares of the semiconductor company’s stock, valued at approximately $443,000. Garden State Investment Advisory Services LLC owned 5.24% of SemiLEDs as of its most recent SEC filing. Hedge funds and other institutional investors own 76.29% of the company’s stock.

SemiLEDs Stock Performance

NASDAQ:LEDS opened at $1.21 on Friday. The company has a market cap of $8.71 million, a P/E ratio of -2.70 and a beta of 1.02. The firm’s 50 day moving average is $1.24 and its two-hundred day moving average is $1.34. SemiLEDs has a fifty-two week low of $0.92 and a fifty-two week high of $2.29. The company has a quick ratio of 0.40, a current ratio of 0.94 and a debt-to-equity ratio of 0.35.

About SemiLEDs

(Get Free Report)

SemiLEDs Corporation develops, manufactures, and sells light emitting diode (LED) chips, LED components, and LED modules and systems in the United States, Taiwan, the Netherlands, Germany, Japan, and internationally. The company also sells enhanced vertical, LED product series in blue, white, green, and UV; LED chips to packagers or distributors; and lighting products primarily to original design manufacturers of lighting products and the end-users of lighting devices, as well as packs and sells its LED chips.