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

707 Cayman Holdings Limited (NASDAQ:JEM) was the target 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. Based on an average daily trading volume, of 40,839 shares, the days-to-cover ratio is currently 0.3 days. Approximately 1.9% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, major shareholder Financial Lp Hrt purchased 125,911 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were purchased at an average cost of $1.07 per share, with a total value of $134,724.77. Following the completion of the transaction, the insider owned 186,419 shares of the company’s stock, valued at $199,468.33. The trade was a 208.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 147,842 shares of company stock worth $456,127 and have sold 61,812 shares worth $185,017.

707 Cayman Price Performance

Shares of JEM traded down $0.09 during trading hours on Monday, hitting $3.71. The company had a trading volume of 7,208 shares, compared to its average volume of 534,979. The business has a fifty day moving average of $4.45 and a 200-day moving average of $15.10. 707 Cayman has a 12 month low of $3.38 and a 12 month high of $135.24.

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

Wall Street Analysts Forecast Growth

JEM has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of 707 Cayman to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings cut 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, 707 Cayman has an average rating of “Sell”.

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.