Short Interest in NetClass Technology Inc (NASDAQ:NTCL) Expands By 2,328.7%

NetClass Technology Inc (NASDAQ:NTCL) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 2,802,594 shares, an increase of 2,328.7% from the May 14th total of 115,397 shares. Based on an average daily volume of 18,225,933 shares, the short-interest ratio is currently 0.2 days. Approximately 4.7% of the shares of the company are short sold.

NetClass Technology Price Performance

NASDAQ NTCL traded down $0.02 on Wednesday, hitting $2.79. The stock had a trading volume of 2,669,373 shares, compared to its average volume of 3,248,605. NetClass Technology has a one year low of $0.22 and a one year high of $3.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.29 and a quick ratio of 1.25. The company’s 50-day moving average is $0.66 and its two-hundred day moving average is $0.57.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NetClass Technology stock. Engineers Gate Manager LP acquired a new stake in NetClass Technology Inc (NASDAQ:NTCL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,966 shares of the company’s stock, valued at approximately $48,000. Engineers Gate Manager LP owned approximately 0.19% of NetClass Technology at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of NetClass Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, NetClass Technology currently has a consensus rating of “Sell”.

About NetClass Technology

Netclass Technology, Inc operates as a holding company, which provides IT solutions to schools, training institutions, corporations, public agencies and other institutions. Its solutions include teaching management, campus management, online teaching, online examination, epidemic prevention and control, education credit block chain system, and lecturer evaluation services. The company was founded January 4, 2022 and is headquartered in Shanghai, China.