Takung Art Co., Ltd. (NYSEAMERICAN:TKAT) Short Interest Up 155.4% in December

Takung Art Co., Ltd. (NYSEAMERICAN:TKAT) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,030,000 shares, a growth of 155.4% from the December 15th total of 403,300 shares. Approximately 13.3% of the company’s shares are short sold. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is presently 0.8 days.

TKAT stock opened at $3.40 on Friday. The stock has a market cap of $47.45 million, a PE ratio of -4.20 and a beta of 2.99. Takung Art has a 1 year low of $1.65 and a 1 year high of $74.11.

Takung Art (NYSEAMERICAN:TKAT) last released its quarterly earnings data on Tuesday, November 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $2.61 million for the quarter. Takung Art had a negative return on equity of 105.51% and a negative net margin of 171.42%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. lifted its position in Takung Art by 746.2% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,585 shares of the company’s stock valued at $42,000 after acquiring an additional 4,925 shares in the last quarter. Bank of America Corp DE bought a new position in Takung Art in the 2nd quarter valued at about $60,000. Jane Street Group LLC bought a new position in Takung Art in the 3rd quarter valued at about $89,000. Morgan Stanley lifted its position in Takung Art by 49.5% in the 2nd quarter. Morgan Stanley now owns 7,634 shares of the company’s stock valued at $127,000 after acquiring an additional 2,529 shares in the last quarter. Finally, Cetera Advisor Networks LLC bought a new position in Takung Art in the 3rd quarter valued at about $141,000. 6.48% of the stock is currently owned by institutional investors and hedge funds.

About Takung Art

Takung Art Co, Ltd. Operates international online trading platform that provides state-of-the-art and convenient services for various types of artworks. The firm provides a way for art collectors and investors to acquire shared ownership in Asian and other fine art – including paintings, calligraphies, jewellery and precious gems.

See Also: Return on Investment (ROI)

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