Shares Trading up at $1.40 (SSC) Seven Stars Cloud Provides Updates on…

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Seven Stars Cloud Group, Inc. (NASDAQ:SSC):

Seven Stars Cloud Provides Updates on Patent Filings, SuperApp, VPaaS and TPaaS.

The company is up since yesterday’s close of 1.38.

Company shares last traded at $1.40 significantly below the 50 day moving average of $1.72 and which is much lower than the 200 day moving average of $2.18. The 50 day moving average went down by -18.45% whereas the 200 day moving average was down $-0.78 or -35.89%.

Traders are more bearish recently if you take into consideration the uptick in short interest. The company recorded a rise in short interest of 1.25% between August 15, 2017 and August 31, 2017. Short shares grew 22,723 over that period. With short interest at 1,835,637 and short average daily volume at 99,976, the short-interest ratio is 18.0 and the percentage of shorted shares is 0.03% as of August 31.