Chinasoft International Limited (OTCMKTS:CFTLF) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 414,000 shares, a decline of 49.9% from the December 15th total of 827,000 shares. Based on an average daily volume of 2,400 shares, the days-to-cover ratio is presently 172.5 days.
OTCMKTS CFTLF opened at $1.08 on Friday. The company’s 50-day simple moving average is $1.48 and its 200 day simple moving average is $1.66. Chinasoft International has a twelve month low of $0.95 and a twelve month high of $3.40.
Separately, The Goldman Sachs Group raised shares of Chinasoft International from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 14th.
Chinasoft International Ltd. is an investment holding company, engages in the development and provision of information technology solutions services, IT outsourcing services and training services. It operates through Technical Professional Services (TPG) and Internet Information Technology (IT) Services (IIG) segments.
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