Short Interest in Luokung Technology Corp. (NASDAQ:LKCO) Drops By 30.2%

Luokung Technology Corp. (NASDAQ:LKCO) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 286,300 shares, a decline of 30.2% from the August 15th total of 410,300 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily volume of 42,700 shares, the short-interest ratio is currently 6.7 days.

Luokung Technology Stock Performance

LKCO traded up $0.03 on Friday, reaching $0.61. The company’s stock had a trading volume of 538,802 shares, compared to its average volume of 80,017. Luokung Technology has a fifty-two week low of $0.41 and a fifty-two week high of $1.13. The stock has a 50 day moving average of $0.64 and a two-hundred day moving average of $0.65.

Shares of Luokung Technology are set to reverse split on Tuesday, September 17th. The 1-8 reverse split was announced on Thursday, September 12th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 16th.

Luokung Technology Company Profile

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.