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

NetClass Technology Inc (NASDAQ:NTCL) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 12,885 shares, a decrease of 98.1% from the June 30th total of 689,185 shares. Based on an average daily volume of 89,575 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.1% of the shares of the company are short sold.

NetClass Technology Price Performance

Shares of NASDAQ:NTCL traded down $0.19 during trading on Friday, hitting $3.30. 22,319 shares of the stock traded hands, compared to its average volume of 80,670. The company has a fifty day moving average price of $25.33 and a two-hundred day moving average price of $21.51. NetClass Technology has a 52-week low of $3.10 and a 52-week high of $155.00.

NetClass Technology (NASDAQ:NTCL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported ($6.35) earnings per share (EPS) for the quarter. The company had revenue of $3.18 million for the quarter.

Hedge Funds Weigh In On NetClass Technology

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

Wall Street Analyst Weigh In

Several research firms have recently commented on NTCL. Wall Street Zen downgraded shares of NetClass Technology to a “strong sell” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded NetClass Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average 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.