DatChat, Inc. (NASDAQ:DATS) Sees Significant Decline in Short Interest

DatChat, Inc. (NASDAQ:DATS) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,900 shares, a drop of 82.0% from the February 29th total of 49,400 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 499,400 shares, the short-interest ratio is currently 0.0 days.

DatChat Stock Performance

DatChat stock traded up $0.02 during midday trading on Friday, reaching $1.44. The company’s stock had a trading volume of 20,729 shares, compared to its average volume of 79,282. DatChat has a fifty-two week low of $1.08 and a fifty-two week high of $8.49. The stock’s 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.97. The firm has a market capitalization of $3.02 million, a PE ratio of -0.28 and a beta of 2.42.

Institutional Investors Weigh In On DatChat

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of DatChat by 468.7% during the 1st quarter. BlackRock Inc. now owns 30,100 shares of the company’s stock worth $79,000 after buying an additional 24,807 shares during the last quarter. Vanguard Group Inc. increased its position in DatChat by 96.1% during the 1st quarter. Vanguard Group Inc. now owns 115,634 shares of the company’s stock worth $303,000 after purchasing an additional 56,653 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in DatChat in the 1st quarter valued at about $130,000. State Street Corp purchased a new stake in DatChat in the 1st quarter valued at about $42,000. Finally, Citadel Advisors LLC purchased a new stake in DatChat in the 3rd quarter valued at about $71,000. Institutional investors and hedge funds own 0.92% of the company’s stock.

About DatChat

DatChat, Inc a communication software company, develops mobile messaging application. The company offers DatChat Messenger & Private Social Network, a mobile application that gives users the ability to communicate with privacy and protection. It develops a blockchain-based decentralized communications platform that allows consumers and businesses to connect directly with each other.