Short Interest in Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Grows By 511.3%

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 212,861 shares, a growth of 511.3% from the May 31st total of 34,819 shares. Based on an average daily trading volume, of 2,868,836 shares, the days-to-cover ratio is currently 0.1 days. Approximately 9.5% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CTNT shares. Wall Street Zen raised shares of Cheetah Net Supply Chain Service to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cheetah Net Supply Chain Service in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Cheetah Net Supply Chain Service Price Performance

Shares of Cheetah Net Supply Chain Service stock remained flat at $1.56 during midday trading on Friday. 114,125 shares of the company traded hands, compared to its average volume of 2,870,112. The stock has a market capitalization of $4.62 million, a PE ratio of -0.01 and a beta of -0.89. The company has a current ratio of 43.19, a quick ratio of 43.19 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $3.69 and a two-hundred day moving average price of $175.20. Cheetah Net Supply Chain Service has a 52-week low of $1.47 and a 52-week high of $424.00.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last released its earnings results on Thursday, May 14th. The company reported ($4.53) earnings per share for the quarter, topping the consensus estimate of ($10.00) by $5.47. Cheetah Net Supply Chain Service had a negative net margin of 389.47% and a negative return on equity of 17.62%. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.20 million.

Insiders Place Their Bets

In related news, insider Huan Liu purchased 200,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $2.00 per share, with a total value of $400,000.00. Following the completion of the purchase, the insider owned 200,877 shares of the company’s stock, valued at approximately $401,754. The trade was a 22,805.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 24.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Cheetah Net Supply Chain Service

An institutional investor recently bought a new position in Cheetah Net Supply Chain Service stock. Two Sigma Investments LP bought a new position in Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,750 shares of the company’s stock, valued at approximately $32,000. Two Sigma Investments LP owned about 0.65% of Cheetah Net Supply Chain Service at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.04% of the company’s stock.

About Cheetah Net Supply Chain Service

Cheetah Net Supply Chain Service Group, Inc, through its subsidiaries, operates as an integrated supply chain service provider primarily focused on meeting the needs of cross-border e-commerce and consumer goods companies. The company delivers end-to-end supply chain solutions, leveraging an internet-driven platform to enhance transparency, efficiency and cost control across clients’ procurement and logistics operations.

Key offerings include supply chain design and consulting, global procurement and sourcing support, quality control and inspection, as well as bonded and non-bonded warehousing services.