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

707 Cayman Holdings Limited (NASDAQ:JEM) was the recipient of a large drop in short interest in the month of 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. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 40,839 shares, the short-interest ratio is currently 0.3 days.

707 Cayman Stock Down 2.2%

707 Cayman stock traded down $0.09 during mid-day trading on Monday, reaching $3.71. The company’s stock had a trading volume of 7,208 shares, compared to its average volume of 534,979. 707 Cayman has a 12 month low of $3.38 and a 12 month high of $135.24. The business’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $15.10.

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

Insiders Place Their Bets

In related news, major shareholder Financial Lp Hrt purchased 125,911 shares of 707 Cayman stock in a transaction dated Thursday, July 9th. The stock was bought at an average price of $1.07 per share, for a total transaction of $134,724.77. Following the completion of the acquisition, the insider directly owned 186,419 shares of the company’s stock, valued at $199,468.33. This represents a 208.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 147,842 shares of company stock valued at $456,127 and have sold 61,812 shares valued at $185,017.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JEM shares. Wall Street Zen raised shares of 707 Cayman to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings downgraded 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, 707 Cayman presently 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.