Intercont (Cayman) Limited (NASDAQ:NCT) Short Interest Down 70.8% in June

Intercont (Cayman) Limited (NASDAQ:NCT) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 102,157 shares, a decrease of 70.8% from the May 31st total of 349,349 shares. Based on an average daily trading volume, of 1,219,212 shares, the days-to-cover ratio is presently 0.1 days. Currently, 7.8% of the company’s shares are sold short.

Institutional Investors Weigh In On Intercont (Cayman)

An institutional investor recently raised its position in Intercont (Cayman) stock. Renaissance Technologies LLC boosted its stake in shares of Intercont (Cayman) Limited (NASDAQ:NCT) by 258.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 413,900 shares of the company’s stock after buying an additional 298,337 shares during the quarter. Renaissance Technologies LLC owned 31.36% of Intercont (Cayman) worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

Intercont (Cayman) Trading Down 0.7%

Intercont (Cayman) stock traded down $0.02 during midday trading on Friday, hitting $2.85. 26,974 shares of the company’s stock were exchanged, compared to its average volume of 775,811. Intercont has a 12-month low of $1.36 and a 12-month high of $127.50. The firm’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $4.12.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Intercont (Cayman) in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Intercont (Cayman) to a “sell” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company 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.