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

707 Cayman Holdings Limited (NASDAQ:JEM) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 31,816 shares, a growth of 109.6% from the August 15th total of 15,179 shares. Based on an average trading volume of 2,062,199 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.7% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JEM. Wall Street Zen upgraded shares of 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 report on Friday, August 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, 707 Cayman currently has an average rating of “Sell”.

707 Cayman Trading Down 1.2%

JEM traded down $0.04 on Wednesday, hitting $3.83. 7,920 shares of the company were exchanged, compared to its average volume of 557,275. The firm has a 50-day moving average price of $5.08 and a two-hundred day moving average price of $16.05. 707 Cayman has a twelve month low of $3.40 and a twelve month high of $135.24.

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

Insiders Place Their Bets

In other 707 Cayman news, major shareholder Financial Lp Hrt purchased 125,911 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were bought at an average cost of $1.07 per share, for a total transaction of $134,724.77. Following the completion of the purchase, the insider directly owned 186,419 shares of the company’s stock, valued at approximately $199,468.33. This trade represents a 208.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders bought 147,842 shares of company stock valued at $456,127 and sold 61,812 shares valued at $185,017.

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.