Short Interest in Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Rises By 260.1%

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 766,513 shares, an increase of 260.1% from the June 15th total of 212,861 shares. Currently, 34.3% of the company’s shares are sold short. Based on an average trading volume of 4,663,207 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

CTNT has been the subject of several analyst reports. Wall Street Zen raised shares of Cheetah Net Supply Chain Service to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cheetah Net Supply Chain Service in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Cheetah Net Supply Chain Service Trading Up 6.0%

Shares of NASDAQ:CTNT traded up $0.10 during midday trading on Tuesday, reaching $1.71. 137,360 shares of the company’s stock were exchanged, compared to its average volume of 993,277. The firm’s 50 day simple moving average is $1.84 and its two-hundred day simple moving average is $153.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 43.19 and a quick ratio of 43.19. The stock has a market cap of $5.05 million, a price-to-earnings ratio of -0.01 and a beta of -0.93. Cheetah Net Supply Chain Service has a fifty-two week low of $1.45 and a fifty-two week high of $424.00.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($4.53) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.20 million.

Insider Activity

In other news, insider Huan Liu acquired 200,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the insider owned 200,877 shares of the company’s stock, valued at $401,754. This trade represents a 22,805.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.47% of the company’s stock.

Hedge Funds Weigh In On Cheetah Net Supply Chain Service

A hedge fund recently bought a new position in Cheetah Net Supply Chain Service stock. Two Sigma Investments LP acquired a new position in shares of Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,750 shares of the company’s stock, valued at approximately $32,000. Two Sigma Investments LP owned 0.65% of Cheetah Net Supply Chain Service as of its most recent filing with the SEC. Institutional investors and hedge funds 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.