707 Cayman (NASDAQ:JEM) Stock Falls 2.1% – Time to Sell?

Shares of 707 Cayman Holdings Limited (NASDAQ:JEM) traded down 2.1% during mid-day trading on Monday. The stock traded as low as $2.64 and last traded at $2.77. 14,406 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 24,303 shares. The stock had previously closed at $2.83.

Analyst Ratings Changes

A number of analysts have commented on JEM shares. Wall Street Zen raised 707 Cayman to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings cut 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

707 Cayman Stock Performance

The company’s 50 day simple moving average is $3.92 and its 200-day simple moving average is $12.76.

707 Cayman (NASDAQ:JEM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($41.29) earnings per share (EPS) for the quarter. The firm had revenue of $2.22 million for the quarter.

About 707 Cayman

707 Cayman Holdings Limited is a Cayman Islands–incorporated special purpose acquisition company (SPAC) listed on Nasdaq under the symbol JEM. The company was formed to identify and complete a business combination with one or more operating businesses.

As a SPAC, 707 Cayman does not conduct significant commercial operations of its own. Its activities are focused on evaluating potential merger, share exchange, asset acquisition, reorganization or related transactions with a target company.