707 Cayman Holdings Limited (NASDAQ:JEM) Shares Shorted: Short Interest Down 93.5% in October

707 Cayman Holdings Limited (NASDAQ:JEM) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 263 shares, a drop of 93.5% from the October 15th total of 4,052 shares. Based on an average daily trading volume, of 10,733 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

707 Cayman Stock Down 5.3%

Shares of 707 Cayman stock traded down $0.14 on Tuesday, reaching $2.42. 6,190 shares of the company were exchanged, compared to its average volume of 460,041. 707 Cayman has a fifty-two week low of $2.21 and a fifty-two week high of $135.24. The stock has a fifty day moving average price of $3.40 and a 200-day moving average price of $15.74.

707 Cayman (NASDAQ:JEM) last issued its quarterly earnings results on Monday, August 10th. The company reported ($41.29) earnings per share for the quarter. The company had revenue of $2.22 million during the quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on JEM. Weiss Ratings cut shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of 707 Cayman to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

About 707 Cayman

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.