Remark Holdings Inc (NASDAQ:MARK) Sees Significant Drop in Short Interest

Remark Holdings Inc (NASDAQ:MARK) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,027,400 shares, a decrease of 7.5% from the June 30th total of 3,272,000 shares. Approximately 14.0% of the shares of the stock are sold short. Based on an average daily volume of 292,900 shares, the days-to-cover ratio is presently 10.3 days.

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Remark in the first quarter worth about $27,000. Geode Capital Management LLC lifted its holdings in shares of Remark by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 255,763 shares of the information services provider’s stock worth $309,000 after acquiring an additional 18,223 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new position in shares of Remark in the second quarter worth about $250,000. Jane Street Group LLC bought a new position in shares of Remark in the second quarter worth about $111,000. Finally, Paloma Partners Management Co bought a new position in shares of Remark in the second quarter worth about $112,000. 18.17% of the stock is owned by hedge funds and other institutional investors.

MARK traded up $0.04 on Thursday, hitting $0.66. 102,300 shares of the stock were exchanged, compared to its average volume of 290,350. Remark has a 12 month low of $0.60 and a 12 month high of $4.57. The business has a 50-day moving average of $0.87 and a two-hundred day moving average of $1.40. The firm has a market capitalization of $27.96 million, a price-to-earnings ratio of -0.52 and a beta of 1.91.

Remark (NASDAQ:MARK) last posted its earnings results on Thursday, August 8th. The information services provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.11. The company had revenue of $2.87 million during the quarter, compared to the consensus estimate of $3.49 million. On average, equities analysts expect that Remark will post -0.5 earnings per share for the current year.

Several equities research analysts recently weighed in on MARK shares. Zacks Investment Research raised shares of Remark from a “hold” rating to a “strong-buy” rating and set a $1.00 price objective for the company in a research report on Thursday, August 8th. ValuEngine cut shares of Remark from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

Remark Company Profile

Remark Holdings, Inc, technology-focused company, develops and deploys artificial intelligence (AI) products and AI-based solutions for businesses in various industries worldwide. It operates through two segments, Travel & Entertainment, and Technology & Data Intelligence. The company operates KanKan, a data intelligence platform that offers AI-based vision products, computing devices, and software-as-a-service products for the financial, retail, entertainment, education, and workplace and public safety industries.

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