CNFinance Holdings Limited (NYSE:CNF) sees sharp rise in short-term interest

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CNFinance Holdings Limited (NYSE: CNF – Get a rating) benefited from significant growth in short-term interest rates in May. As of May 15, there were short interests totaling 9,700 shares, a growth of 59.0% from the total of 6,100 shares as of April 30. Based on an average daily volume of 40,800 shares, the short interest rate is currently 0.2 days.

Separately, Zacks Investment Research upgraded CNFinance shares from a “sell” rating to a “hold” rating in a research note on Friday.

Major investors have recently been buying and selling shares of the company. JBF Capital Inc. acquired a new position in shares of CNFinance in the fourth quarter valued at approximately $88,000. Two Sigma Securities LLC acquired a new position in shares of CNFinance in the third quarter valued at approximately $75,000. Gagnon Securities LLC increased its position in CNFinance shares by 9.5% in the fourth quarter. Gagnon Securities LLC now owns 1,527,494 shares of the company valued at $6,232,000 after purchasing an additional 132,451 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in CNFinance in the fourth quarter valued at approximately $867,000. Finally, Citadel Advisors LLC acquired a new stake in CNFinance in the fourth quarter valued at approximately $347,000. 3.90% of the shares are held by institutional investors and hedge funds.

NYSE CNF shares opened at $2.50 on Friday. The company has a quick ratio of 446.85, a current ratio of 477.14 and a debt ratio of 2.12. The stock has a market capitalization of $171.46 million, a price-earnings ratio of 19.23 and a beta of 0.31. The company has a 50-day moving average price of $2.93 and a 200-day moving average price of $3.59. CNFinance has a 52-week low of $2.11 and a 52-week high of $6.34.

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CNFinance (NYSE: CNF – Get a rating) last announced its results on Friday, March 18. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.15) by ($0.09). The company posted revenue of $31.82 million for the quarter, versus analyst estimates of $39.49 million. CNFinance has a return on equity of 1.61% and a net margin of 4.37%. Equity research analysts expect CNFinance to post 0.28 EPS for the current fiscal year.

About CNFinance (Get a rating)

CNFinance Holdings Limited, through its subsidiaries, provides home equity lending services in the People’s Republic of China. It offers microcredit services to micro and small business owners; and loan agency services for financial institutions. The company also offers bridge loan products, which are unsecured short-term loans to repay borrowers’ existing loans secured by real estate.

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