707 Cayman Holdings Limited (NASDAQ:JEM) Stock Short Interest Drops 60.0%

707 Cayman Holdings Limited (NASDAQ:JEM) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totaling 12,720 shares, a drop of 60.0% from the August 31st total of 31,816 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 40,839 shares, the days-to-cover ratio is currently 0.3 days.

Insiders Place Their Bets

In other 707 Cayman news, major shareholder Financial Lp Hrt bought 125,911 shares of 707 Cayman stock in a transaction on Thursday, July 9th. The stock was purchased at an average cost of $1.07 per share, for a total transaction of $134,724.77. Following the completion of the purchase, the insider directly owned 186,419 shares of the company’s stock, valued at $199,468.33. The trade was a 208.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have purchased 147,842 shares of company stock worth $456,127 and have sold 61,812 shares worth $185,017.

Analyst Ratings Changes

A number of research firms have recently weighed in on JEM. Wall Street Zen upgraded shares of 707 Cayman to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings cut shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, 707 Cayman presently has a consensus rating of “Sell”.

707 Cayman Stock Down 3.5%

Shares of JEM stock traded down $0.13 during trading on Tuesday, reaching $3.56. The company had a trading volume of 8,986 shares, compared to its average volume of 38,441. The firm’s 50 day simple moving average is $4.44 and its two-hundred day simple moving average is $14.82. 707 Cayman has a one year low of $3.38 and a one year high of $135.24.

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

707 Cayman Company Profile

707 Cayman Limited is a blank check company incorporated in the Cayman Islands. The company was formed to pursue a business combination with one or more businesses, which could take the form of a merger, share exchange, asset acquisition, reorganization, or similar transaction.

707 Cayman does not appear to have established operating activities, products, or services of its own. Its principal objective is to identify and complete a transaction with a target company, after which the combined business would be expected to conduct the primary operations.

The company has not publicly identified a specific acquisition target or provided detailed information about its intended industry or geographic focus.