707 Cayman Holdings Limited (NASDAQ:JEM) Sees Large Drop in Short Interest

707 Cayman Holdings Limited (NASDAQ:JEM) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 15,179 shares, a decrease of 77.9% from the July 30th total of 68,740 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily volume of 58,774 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JEM. Wall Street Zen raised 707 Cayman to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings downgraded shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, 707 Cayman has a consensus rating of “Sell”.

707 Cayman Price Performance

JEM stock opened at $6.80 on Wednesday. 707 Cayman has a 1-year low of $3.40 and a 1-year high of $885.60. The business’s 50 day simple moving average is $12.39 and its 200 day simple moving average is $18.65.

707 Cayman (NASDAQ:JEM) last released its quarterly earnings data on Monday, August 10th. The company reported ($41.30) EPS for the quarter. The business had revenue of $2.22 million for the quarter.

Insider Transactions at 707 Cayman

In other news, major shareholder Financial Lp Hrt purchased 125,911 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were bought at an average cost of $1.07 per share, for a total transaction of $134,724.77. Following the completion of the acquisition, the insider directly owned 186,419 shares in the company, valued at approximately $199,468.33. This trade represents a 208.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 147,842 shares of company stock worth $456,127 and sold 61,812 shares worth $185,017.

Institutional Investors Weigh In On 707 Cayman

A hedge fund recently bought a new position in 707 Cayman stock. Geode Capital Management LLC purchased a new position in shares of 707 Cayman Holdings Limited (NASDAQ:JEM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,807 shares of the company’s stock, valued at approximately $72,000. Geode Capital Management LLC owned 0.06% of 707 Cayman as of its most recent filing with the Securities and Exchange Commission (SEC).

About 707 Cayman

We are a Hong Kong-based company that sells quality apparel products and provides supply chain management total solutions to our customers spanning from Western Europe, North America to the Middle East. We were founded in 2021 and became wholly-owned by Mr. Cheung, executive director and chief executive officer, in May 2022 and have grown, in a short period of time, building relationships with a diverse range of customers. Our customers include mid-size brand owners and apparel companies that have comprehensive operations with private labels that are sold worldwide.