CLPS Inc (NASDAQ:CLPS) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 18,900 shares, a decrease of 45.8% from the August 30th total of 34,900 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 17,600 shares, the days-to-cover ratio is currently 1.1 days.
Separately, ValuEngine upgraded CLPS from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.
A number of large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC grew its stake in shares of CLPS by 379.2% in the 2nd quarter. Citadel Advisors LLC now owns 92,820 shares of the company’s stock valued at $524,000 after purchasing an additional 73,452 shares during the last quarter. Morgan Stanley grew its stake in shares of CLPS by 27.7% in the 2nd quarter. Morgan Stanley now owns 17,202 shares of the company’s stock valued at $97,000 after purchasing an additional 3,734 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of CLPS in the 2nd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 1.03% of the company’s stock.
NASDAQ:CLPS traded up $0.02 during mid-day trading on Friday, reaching $4.92. 63,659 shares of the stock were exchanged, compared to its average volume of 24,242. The company has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $6.49. CLPS has a 1 year low of $2.12 and a 1 year high of $17.99.
CLPS Company Profile
CLPS Incorporation provides information technology and consulting services to banking, insurance, and financial sectors in the People's Republic of China and internationally. It offers IT consulting services in credit card business areas, such as credit card application, account setup, authorization and activation, settlement, collection, promotion, point system, anti-fraud, statement, reporting, and risk management.
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