Intercont (Cayman) Limited (NASDAQ:NCT) Shares Shorted: Short Interest Up 5,127.8% in September

Intercont (Cayman) Limited (NASDAQ:NCT) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 3,134,393 shares, an increase of 5,127.8% from the August 31st total of 59,956 shares. Based on an average daily trading volume, of 31,280,175 shares, the short-interest ratio is currently 0.1 days. Approximately 5,913.9% of the company’s shares are sold short.

Intercont (Cayman) Price Performance

NASDAQ:NCT traded down $0.78 on Thursday, hitting $4.65. The company’s stock had a trading volume of 80,772 shares, compared to its average volume of 122,046. The stock has a fifty day moving average of $68.13 and a two-hundred day moving average of $68.72. Intercont has a one year low of $4.53 and a one year high of $1,025.00.

Hedge Funds Weigh In On Intercont (Cayman)

A hedge fund recently raised its position in Intercont (Cayman) stock. Renaissance Technologies LLC boosted its holdings in shares of Intercont (Cayman) Limited (NASDAQ:NCT) by 258.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 413,900 shares of the company’s stock after purchasing an additional 298,337 shares during the period. Renaissance Technologies LLC owned about 31.36% of Intercont (Cayman) worth $30,000 at the end of the most recent quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Intercont (Cayman) in a report on Wednesday, July 8th. Wall Street Zen raised shares of Intercont (Cayman) to a “sell” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Intercont (Cayman) presently has a consensus rating of “Sell”.

Intercont (Cayman) Company Profile

Intercont (Cayman) Ltd. is a holding company, which engages in the provision of global maritime shipping services through its subsidiaries. Its services include time chartering and vessel management. The company was founded on July 4, 2023 and is headquartered in Hong Kong.