Short Interest in Kubient, Inc. (NASDAQ:KBNT) Declines By 12.3%

Kubient, Inc. (NASDAQ:KBNT) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 39,300 shares, a drop of 12.3% from the October 15th total of 44,800 shares. Based on an average trading volume of 152,900 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.5% of the company’s stock are short sold.

Institutional Trading of Kubient

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Kubient by 255.9% during the first quarter. Bank of New York Mellon Corp now owns 97,557 shares of the company’s stock valued at $166,000 after purchasing an additional 70,142 shares during the period. Renaissance Technologies LLC raised its stake in Kubient by 269.2% during the 2nd quarter. Renaissance Technologies LLC now owns 43,196 shares of the company’s stock valued at $29,000 after buying an additional 31,496 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Kubient during the 1st quarter valued at $26,000. 18.34% of the stock is currently owned by hedge funds and other institutional investors.

Kubient Price Performance

NASDAQ KBNT traded down $0.07 during trading hours on Friday, reaching $0.03. 450,695 shares of the company’s stock traded hands, compared to its average volume of 243,500. Kubient has a 52-week low of $0.01 and a 52-week high of $1.60. The company has a current ratio of 7.11, a quick ratio of 7.11 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $0.27 and a 200 day simple moving average of $0.47.

Kubient Company Profile

Kubient, Inc develops a cloud-based software platform for digital advertising industry. It develops Audience Marketplace, a platform for real-time trading of digital, programmatic advertising. The company's platform allows advertisers and publishers the ability to use machine learning during programmatic advertising inventory auction.