707 Cayman Holdings Limited (NASDAQ:JEM) Short Interest Up 450.2% in June

707 Cayman Holdings Limited (NASDAQ:JEM) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 227,928 shares, an increase of 450.2% from the May 31st total of 41,427 shares. Currently, 12.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,043,951 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On 707 Cayman

An institutional investor recently bought a new position in 707 Cayman stock. Geode Capital Management LLC bought a new position in shares of 707 Cayman Holdings Limited (NASDAQ:JEM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,807 shares of the company’s stock, valued at approximately $72,000. Geode Capital Management LLC owned 0.06% of 707 Cayman at the end of the most recent quarter.

707 Cayman Stock Down 11.5%

Shares of JEM stock traded down $0.30 during trading on Friday, reaching $2.31. The company had a trading volume of 679,858 shares, compared to its average volume of 590,493. The firm’s 50 day simple moving average is $1.68 and its two-hundred day simple moving average is $2.51. 707 Cayman has a one year low of $1.02 and a one year high of $135.00.

About 707 Cayman

We are a Hong Kong-based company that sells quality apparel products and provides supply chain management total solutions to our customers spanning from Western Europe, North America to the Middle East. We were founded in 2021 and became wholly-owned by Mr. Cheung, executive director and chief executive officer, in May 2022 and have grown, in a short period of time, building relationships with a diverse range of customers. Our customers include mid-size brand owners and apparel companies that have comprehensive operations with private labels that are sold worldwide.