Intercont (Cayman) Limited (NASDAQ:NCT) Short Interest Up 20,669.9% in May

Intercont (Cayman) Limited (NASDAQ:NCT) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 349,349 shares, a growth of 20,669.9% from the May 14th total of 1,682 shares. Currently, 24.3% of the shares of the stock are short sold. Based on an average trading volume of 3,658,474 shares, the days-to-cover ratio is presently 0.1 days.

Intercont (Cayman) Trading Up 19.9%

NASDAQ:NCT traded up $0.49 during midday trading on Tuesday, reaching $2.95. 258,362 shares of the stock traded hands, compared to its average volume of 522,664. The company has a fifty day moving average of $2.49 and a 200 day moving average of $5.53. Intercont has a 12 month low of $1.36 and a 12 month high of $127.50.

Intercont (Cayman) (NASDAQ:NCT) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($1.25) EPS for the quarter. The firm had revenue of $6.29 million for the quarter.

Institutional Investors Weigh In On Intercont (Cayman)

A hedge fund recently raised its stake in Intercont (Cayman) stock. Renaissance Technologies LLC lifted its holdings in shares of Intercont (Cayman) Limited (NASDAQ:NCT) by 258.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,900 shares of the company’s stock after acquiring an additional 298,337 shares during the quarter. Renaissance Technologies LLC owned approximately 31.36% of Intercont (Cayman) worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intercont (Cayman) in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

About Intercont (Cayman)

Intercont (Cayman), doing business as NetCents Technology Inc, operates a cloud-based payments-as-a-service platform that enables merchants to accept both traditional payment methods—such as credit and debit cards, direct bank transfers—and digital currencies through a single integration. The company’s API-driven solution supports online storefronts, hosted checkout pages and in-store terminals, offering a seamless payment experience for end consumers while simplifying back-end processing for merchants.

Legally domiciled in the Cayman Islands and founded in 2013, NetCents maintains its operational headquarters in Kelowna, British Columbia.