NetClass Technology Inc (NASDAQ:NTCL) Sees Large Increase in Short Interest

NetClass Technology Inc (NASDAQ:NTCL) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 2,802,594 shares, a growth of 2,328.7% from the May 14th total of 115,397 shares. Currently, 4.7% of the shares of the company are sold short. Based on an average trading volume of 18,225,933 shares, the short-interest ratio is currently 0.2 days.

NetClass Technology Trading Up 18.6%

Shares of NTCL stock traded up $0.44 during mid-day trading on Tuesday, hitting $2.80. 10,845,632 shares of the stock were exchanged, compared to its average volume of 9,875,066. NetClass Technology has a 52-week low of $0.22 and a 52-week high of $3.09. The company has a current ratio of 1.29, a quick ratio of 1.25 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $0.66 and a 200 day moving average of $0.57.

Institutional Investors Weigh In On NetClass Technology

An institutional investor recently bought a new position in NetClass Technology stock. Engineers Gate Manager LP acquired a new position in shares of NetClass Technology Inc (NASDAQ:NTCL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,966 shares of the company’s stock, valued at approximately $48,000. Engineers Gate Manager LP owned 0.19% of NetClass Technology as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of NetClass Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

NetClass Technology Company Profile

Netclass Technology, Inc operates as a holding company, which provides IT solutions to schools, training institutions, corporations, public agencies and other institutions. Its solutions include teaching management, campus management, online teaching, online examination, epidemic prevention and control, education credit block chain system, and lecturer evaluation services. The company was founded January 4, 2022 and is headquartered in Shanghai, China.