707 Cayman Holdings Limited (NASDAQ:JEM) Sees Significant Increase in Short Interest

707 Cayman Holdings Limited (NASDAQ:JEM) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 446,478 shares, an increase of 95.9% from the June 15th total of 227,928 shares. Based on an average trading volume of 13,460,215 shares, the days-to-cover ratio is presently 0.0 days. Currently, 24.8% of the shares of the company are sold short.

707 Cayman Price Performance

Shares of NASDAQ JEM traded down $0.20 during midday trading on Thursday, reaching $5.29. 123,962 shares of the company traded hands, compared to its average volume of 220,098. The stock has a 50-day moving average price of $20.81 and a 200 day moving average price of $26.86. 707 Cayman has a 52 week low of $4.50 and a 52 week high of $1,620.00.

Insider Activity

In other news, major shareholder Financial Lp Hrt purchased 125,911 shares of the stock in a transaction dated Thursday, July 9th. The stock was acquired at an average price of $1.07 per share, for a total transaction of $134,724.77. Following the completion of the transaction, the insider owned 186,419 shares of the company’s stock, valued at approximately $199,468.33. The trade was a 208.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have acquired 147,842 shares of company stock worth $456,127 and have sold 61,812 shares worth $185,017.

Institutional Trading of 707 Cayman

A hedge fund recently bought a new stake in 707 Cayman stock. Geode Capital Management LLC purchased a new position in 707 Cayman Holdings Limited (NASDAQ:JEM) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of 707 Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

707 Cayman Company Profile

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.