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

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

707 Cayman Price Performance

NASDAQ:JEM traded up $0.26 on Thursday, reaching $3.18. 26,270 shares of the company’s stock traded hands, compared to its average volume of 477,384. The stock has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $17.41. 707 Cayman has a 12 month low of $2.39 and a 12 month high of $135.24.

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

Analyst Ratings Changes

Several research firms have recently commented on JEM. Wall Street Zen upgraded 707 Cayman to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings lowered 707 Cayman from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.