707 Cayman Holdings Limited (NASDAQ:JEM) Short Interest Up 450.2% in June

707 Cayman Holdings Limited (NASDAQ:JEM) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 227,928 shares, an increase of 450.2% from the May 31st total of 41,427 shares. Currently, 12.7% of the company’s shares are short sold. Based on an average trading volume of 1,043,951 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On 707 Cayman

An institutional investor recently bought a new position in 707 Cayman stock. Geode Capital Management LLC acquired a new position in shares of 707 Cayman Holdings Limited (NASDAQ:JEM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,807 shares of the company’s stock, valued at approximately $72,000. Geode Capital Management LLC owned approximately 0.06% of 707 Cayman at the end of the most recent quarter.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

707 Cayman Stock Performance

JEM traded down $0.30 on Friday, reaching $2.31. 679,858 shares of the company traded hands, compared to its average volume of 590,493. The stock’s 50 day moving average price is $1.68 and its 200-day moving average price is $2.51. 707 Cayman has a 52-week low of $1.02 and a 52-week high of $135.00.

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.