Short Interest in Luokung Technology Corp. (NASDAQ:LKCO) Decreases By 37.7%

Luokung Technology Corp. (NASDAQ:LKCO) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 26,100 shares, a decline of 37.7% from the February 13th total of 41,900 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 76,500 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Luokung Technology stock. Citadel Advisors LLC purchased a new position in shares of Luokung Technology Corp. (NASDAQ:LKCO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,691 shares of the company’s stock, valued at approximately $69,000. Citadel Advisors LLC owned approximately 0.55% of Luokung Technology as of its most recent SEC filing. 14.62% of the stock is owned by hedge funds and other institutional investors.

Luokung Technology Stock Performance

Shares of Luokung Technology stock traded up $0.19 during trading hours on Monday, hitting $1.54. The company’s stock had a trading volume of 499,034 shares, compared to its average volume of 38,191. The firm has a fifty day moving average of $1.79 and a 200-day moving average of $2.18. Luokung Technology has a twelve month low of $1.10 and a twelve month high of $7.68.

About Luokung Technology

Luokung Technology Corp., together with its subsidiaries, engages in the provision of location-based services and mobile application products for long distance rail travelers in the People’s Republic of China. It offers Luokuang mobile application, which provides business to customer (B2C) location-based services; and SuperEngine that offers business to business (B2B) and business to government (B2G) services in connection with spatial-temporal big data processing.