707 Cayman Holdings Limited (NASDAQ:JEM) Sees Large Decline in Short Interest

707 Cayman Holdings Limited (NASDAQ:JEM) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 4,052 shares, a decline of 63.6% from the September 30th total of 11,134 shares. Based on an average daily volume of 17,276 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

707 Cayman Stock Performance

NASDAQ:JEM traded down $0.23 during mid-day trading on Friday, hitting $2.95. 8,493 shares of the stock traded hands, compared to its average volume of 475,144. 707 Cayman has a 52 week low of $2.39 and a 52 week high of $135.24. The firm’s 50 day moving average is $3.72 and its two-hundred day moving average is $17.20.

707 Cayman (NASDAQ:JEM) last posted its earnings results on Monday, August 10th. The company reported ($41.29) EPS for the quarter. The business had revenue of $2.22 million for the quarter.

707 Cayman Company Profile

707 Cayman is a Cayman Islands-incorporated special purpose acquisition company (SPAC) that trades on the Nasdaq Stock Market under the symbol JEM. The company was established to pursue a business combination, such as a merger, share exchange, asset acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, 707 Cayman does not currently offer its own products or services and does not appear to have established commercial operations. Its principal activity is evaluating potential acquisition opportunities and seeking shareholder approval for a proposed transaction.

The company’s geographic focus, target industry, completed transactions, and current leadership information are not sufficiently documented in the available public information.