On Friday, Singularity Future Technology Ltd. (NASDAQ:SGLY) stock opened at $4.46, showing a 2.1% increase from the previous day’s closing price of $4.35. The company has a 50-day moving average of $4.66 and a two-hundred day moving average price of $4.65, indicating a stable growth trend for its share prices.
Singularity Future Technology is an integrated logistics solutions provider operating in China and the United States. The company offers various freight logistics services including shipping, transportation, warehousing, collection, last-mile delivery, drop shipping, customs clearance, and overseas transit delivery services to customers across different industries such as e-commerce, retail, and manufacturing.
According to recent data from Yahoo Finance, the short interest in SGLY stock decreased significantly in May by 16.4%, with the total number of shares sold short decreasing from 58,500 to 48,900 on May 15th. With an average daily trading volume of 405,600 shares and a current short-interest ratio standing at 0.1 days or approximately 1.4% of the stock’s shares being sold short compared to its total outstanding shares of approximately 337 million shares as of March 31st), SGLY appears to be experiencing positive market sentiment for its future growth prospects as investors continue to show confidence in its ability to provide innovative logistics solutions that meet the evolving needs of its customers in both China and the US markets.
