707 Cayman Holdings Limited (NASDAQ:JEM) Shares Shorted: Short Interest Down 63.6% in October

707 Cayman Holdings Limited (NASDAQ:JEM) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 4,052 shares, a drop of 63.6% from the September 30th total of 11,134 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 17,276 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JEM shares. Weiss Ratings cut shares of 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Wall Street Zen raised shares of 707 Cayman to a “hold” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, 707 Cayman presently has an average rating of “Sell”.

707 Cayman Trading Up 8.9%

Shares of NASDAQ JEM traded up $0.26 during midday trading on Thursday, reaching $3.18. The company had a trading volume of 26,270 shares, compared to its average volume of 477,384. The business’s 50-day simple moving average is $3.74 and its 200 day simple moving average is $17.41. 707 Cayman has a 1 year low of $2.39 and a 1 year high of $135.24.

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

About 707 Cayman

707 Cayman is a Cayman Islands-incorporated special purpose acquisition company (SPAC) that trades on the Nasdaq Stock Market under the symbol JEM. The company was established to pursue a business combination, such as a merger, share exchange, asset acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, 707 Cayman does not currently offer its own products or services and does not appear to have established commercial operations. Its principal activity is evaluating potential acquisition opportunities and seeking shareholder approval for a proposed transaction.

The company’s geographic focus, target industry, completed transactions, and current leadership information are not sufficiently documented in the available public information.