Short Interest in 707 Cayman Holdings Limited (NASDAQ:JEM) Declines By 44.2%

707 Cayman Holdings Limited (NASDAQ:JEM) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 41,427 shares, a drop of 44.2% from the May 14th total of 74,279 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 143,092 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 707 Cayman in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On 707 Cayman

A hedge fund recently bought a new stake in 707 Cayman stock. Geode Capital Management LLC purchased a new stake in 707 Cayman Holdings Limited (NASDAQ:JEM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,807 shares of the company’s stock, valued at approximately $72,000. Geode Capital Management LLC owned about 0.06% of 707 Cayman at the end of the most recent reporting period.

707 Cayman Trading Up 5.3%

JEM traded up $0.11 during trading on Friday, reaching $2.18. The company’s stock had a trading volume of 6,746,046 shares, compared to its average volume of 320,837. The firm has a fifty day simple moving average of $1.64 and a two-hundred day simple moving average of $2.68. 707 Cayman has a 1 year low of $1.02 and a 1 year high of $158.00.

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.