Recent insider trends for ChinaCache International Holdings Ltd. (NASDAQ:CCIH) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. CCIH’s insider trading patterns have some implications for where the stock might be headed.
Institutions own 01.96% of ChinaCache International Holdings Ltd. (CCIH)’s shares. The total value of these holdings, in millions, is $22. Among active positions in the latest quarter, 4 holders increased their positions by a total of 302423 shares, 8 holders decreased the positions by a total of 1.57 million shares, and 8 holders held their positions. This works out to a net decrease in ownership of 1.27 million shares, and suggests that institutions are feeling bearish about the stock.
Among new and sold out positions, 3 holders initiated new positions by a total of 45123 shares and 3 holders exited their positions by a total of 620491 shares. This nets out to a decrease of 575368 shares and is another bearish sign for CCIH.
Insider ownership increased by a total of 0 shares, which suggests that CCIH’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. ChinaCache International Holdings Ltd. (NASDAQ:CCIH)’s short interest is 1.63 million shares, or 8.31% of the float. This represents an increase of 96% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.
In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for CCIH. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that CCIH is a Strong buy, which implies that CCIH is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that ChinaCache International Holdings Ltd. (NASDAQ:CCIH) is undervalued.