New Century Logistics (BVI) Limited (NASDAQ:NCEW) Sees Significant Decline in Short Interest

New Century Logistics (BVI) Limited (NASDAQ:NCEW) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 22,609 shares, a drop of 51.6% from the December 31st total of 46,746 shares. Based on an average daily volume of 25,908 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.8% of the shares of the company are sold short. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 25,908 shares, the days-to-cover ratio is currently 0.9 days.

New Century Logistics (BVI) Price Performance

NCEW opened at $7.31 on Thursday. The business has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $5.26. New Century Logistics has a 12 month low of $2.80 and a 12 month high of $71.46.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of New Century Logistics (BVI) in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

New Century Logistics (BVI) Company Profile

New Century Logistics (BVI) Limited (“NC Logistics”) was incorporated in the BVI on April 24, 2019 with limited liability and is a holding company with no material operations. Our operations are conducted in Hong Kong by our wholly-owned subsidiaries, namely (i) New Century Logistics Company Limited (“NCL (HK)”), a company incorporated in Hong Kong with limited liability, (ii) GLF Cargo Services Limited (“GLF”), a company incorporated in Hong Kong with limited liability and a wholly-owned by NCL (HK), and (iii) Win-Tec Transportation Company Limited (“Win-Tec”), a company incorporated in Hong Kong with limited liability and a wholly-owned by NCL (HK).