Swvl Holdings Corp. (NASDAQ:SWVL) Sees Large Decline in Short Interest

Swvl Holdings Corp. (NASDAQ:SWVL) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 40,000 shares, a decrease of 25.8% from the February 28th total of 53,900 shares. Based on an average daily volume of 17,300 shares, the short-interest ratio is presently 2.3 days. Currently, 0.7% of the company’s stock are sold short.

Swvl Price Performance

SWVL stock opened at $4.05 on Friday. The company’s 50-day moving average is $4.82 and its 200-day moving average is $4.79. Swvl has a 1 year low of $2.55 and a 1 year high of $21.94.

Institutional Investors Weigh In On Swvl

An institutional investor recently bought a new position in Swvl stock. HITE Hedge Asset Management LLC bought a new position in Swvl Holdings Corp. (NASDAQ:SWVL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 32,910 shares of the company’s stock, valued at approximately $210,000. HITE Hedge Asset Management LLC owned approximately 0.48% of Swvl as of its most recent SEC filing. 34.03% of the stock is owned by institutional investors.

Swvl Company Profile

Swvl Holdings Corp. provides mass transit ridesharing services. It offers B2C Swvl Retail, which provides riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities; Swvl Travel that allows riders to book rides on long-distance intercity routes on vehicle available through the Swvl platform or through third-party services; and Swvl Business, a transport as a service enterprise product for businesses, schools, municipal transit agencies, and other customers.