Short Interest in Sound Group Inc. (NASDAQ:SOGP) Drops By 60.8%

Sound Group Inc. (NASDAQ:SOGP) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 14,500 shares, a decrease of 60.8% from the September 30th total of 37,000 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 17,600 shares, the short-interest ratio is presently 0.8 days.

Sound Group Trading Up 2.9 %

Shares of SOGP opened at $1.93 on Friday. Sound Group has a 1 year low of $1.49 and a 1 year high of $6.70. The stock has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.26. The stock has a market cap of $9.98 million, a PE ratio of 1.94 and a beta of 1.69.

Hedge Funds Weigh In On Sound Group

A hedge fund recently bought a new stake in Sound Group stock. Renaissance Technologies LLC bought a new position in Sound Group Inc. (NASDAQ:SOGP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,158 shares of the company’s stock, valued at approximately $31,000. Renaissance Technologies LLC owned approximately 0.29% of Sound Group at the end of the most recent quarter. 1.62% of the stock is currently owned by institutional investors and hedge funds.

About Sound Group

Sound Group Inc operates as an audio-centric social and entertainment company. It focuses on building audio platform to connect and communicate. The company, through its product portfolio and in-house technologies, caters to user interest in audio entertainment and social networking. The company was formerly known as LIZHI INC.