Swvl Holdings Corp. (NASDAQ:SWVL) Sees Significant Drop in Short Interest

Swvl Holdings Corp. (NASDAQ:SWVL) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 40,000 shares, a drop of 25.8% from the February 28th total of 53,900 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 17,300 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Trading of Swvl

An institutional investor recently bought a new position in Swvl stock. HITE Hedge Asset Management LLC bought a new position in shares of Swvl Holdings Corp. (NASDAQ:SWVL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,910 shares of the company’s stock, valued at approximately $210,000. HITE Hedge Asset Management LLC owned about 0.48% of Swvl as of its most recent SEC filing. Institutional investors and hedge funds own 34.03% of the company’s stock.

Swvl Price Performance

SWVL opened at $4.16 on Tuesday. The company’s 50 day moving average price is $4.81 and its two-hundred day moving average price is $4.77. Swvl has a fifty-two week low of $2.55 and a fifty-two week high of $21.94.

About Swvl

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.