Luokung Technology Corp. (NASDAQ:LKCO) Short Interest Down 30.2% in August

Luokung Technology Corp. (NASDAQ:LKCO) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 286,300 shares, a decline of 30.2% from the August 15th total of 410,300 shares. Based on an average daily trading volume, of 42,700 shares, the short-interest ratio is presently 6.7 days. Approximately 1.9% of the shares of the company are sold short.

Luokung Technology Price Performance

NASDAQ LKCO traded up $0.03 on Friday, reaching $0.61. The stock had a trading volume of 538,802 shares, compared to its average volume of 80,017. Luokung Technology has a 12-month low of $0.41 and a 12-month high of $1.13. The business’s 50-day moving average price is $0.64 and its 200 day moving average price is $0.65.

Shares of Luokung Technology are going to reverse split on Tuesday, September 17th. The 1-8 reverse split was announced on Thursday, September 12th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 16th.

About Luokung Technology

Luokung Technology Corp., together with its subsidiaries, engages in the provision of location-based services and mobile application products for long distance rail travelers in the People's Republic of China. It offers Luokuang mobile application, which provides business to customer (B2C) location-based services; and SuperEngine that offers business to business (B2B) and business to government (B2G) services in connection with spatial-temporal big data processing.