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

707 Cayman Holdings Limited (NASDAQ:JEM) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 15,179 shares, a decrease of 77.9% from the July 30th total of 68,740 shares. Based on an average daily trading volume, of 58,774 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JEM shares. Weiss Ratings downgraded shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Wall Street Zen upgraded 707 Cayman to a “hold” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

707 Cayman Stock Performance

Shares of JEM stock traded down $0.97 during trading on Thursday, hitting $4.70. 210,046 shares of the company were exchanged, compared to its average volume of 1,186,318. The business’s 50-day simple moving average is $11.38 and its 200 day simple moving average is $18.26. 707 Cayman has a twelve month low of $3.40 and a twelve month high of $885.60.

707 Cayman (NASDAQ:JEM) last released its quarterly earnings data on Monday, August 10th. The company reported ($41.30) earnings per share for the quarter. The business had revenue of $2.22 million for the quarter.

Insider Activity at 707 Cayman

In other news, major shareholder Financial Lp Hrt bought 125,911 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were acquired at an average cost of $1.07 per share, with a total value of $134,724.77. Following the completion of the transaction, the insider directly owned 186,419 shares in the company, valued at approximately $199,468.33. The trade was a 208.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 147,842 shares of company stock valued at $456,127 and have sold 61,812 shares valued at $185,017.

Institutional Trading of 707 Cayman

A hedge fund recently bought a new stake in 707 Cayman stock. Geode Capital Management LLC bought a new position in 707 Cayman Holdings Limited (NASDAQ:JEM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,807 shares of the company’s stock, valued at approximately $72,000. Geode Capital Management LLC owned about 0.06% of 707 Cayman at the end of the most recent reporting period.

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.