Short Interest in Freedom Holding Corp. (NASDAQ:FRHC) Decreases By 5.1%

Freedom Holding Corp. (NASDAQ:FRHC) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 598,600 shares, a drop of 5.1% from the August 15th total of 631,100 shares. Based on an average trading volume of 95,000 shares, the days-to-cover ratio is presently 6.3 days. Currently, 3.4% of the shares of the stock are short sold.

Freedom Trading Up 2.0 %

FRHC stock opened at $97.79 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.20 and a current ratio of 1.20. Freedom has a one year low of $64.00 and a one year high of $98.00. The company’s 50 day moving average price is $87.10 and its two-hundred day moving average price is $77.96. The company has a market capitalization of $5.93 billion, a PE ratio of 15.50 and a beta of 1.04.

Freedom (NASDAQ:FRHC) last issued its earnings results on Friday, August 9th. The company reported $0.57 EPS for the quarter. Freedom had a net margin of 19.32% and a return on equity of 32.00%. The company had revenue of $450.72 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of Freedom by 21.9% in the fourth quarter. Hsbc Holdings PLC now owns 48,357 shares of the company’s stock worth $3,945,000 after buying an additional 8,674 shares during the period. Sparta 24 Ltd. purchased a new position in Freedom during the 2nd quarter valued at $1,996,000. Marshall Wace LLP purchased a new position in Freedom during the 2nd quarter valued at $618,000. Quadrature Capital Ltd purchased a new position in Freedom during the 1st quarter valued at $426,000. Finally, Algert Global LLC increased its position in Freedom by 44.0% during the 2nd quarter. Algert Global LLC now owns 5,905 shares of the company’s stock valued at $445,000 after purchasing an additional 1,805 shares during the period. 1.26% of the stock is owned by hedge funds and other institutional investors.

About Freedom

Freedom Holding Corp., through its subsidiaries, provides retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, and underwriting services. It offers retail brokerage services for exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange traded options and futures contracts, government bonds, and mutual funds; margin lending services collateralized by securities and cash in the customer's account; various investment education and training courses; investment research services; and commercial banking services, including payment cards, digital mortgages, and digital business and digital auto loans, as well as Freedom Box, a package of payment acquiring services.