NetClass Technology Inc (NASDAQ:NTCL) Sees Large Increase in Short Interest

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

Hedge Funds Weigh In On NetClass Technology

An institutional investor recently bought a new position in NetClass Technology stock. Engineers Gate Manager LP purchased a new stake in NetClass Technology Inc (NASDAQ:NTCL) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,966 shares of the company’s stock, valued at approximately $48,000. Engineers Gate Manager LP owned approximately 0.19% of NetClass Technology as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

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

NetClass Technology Stock Up 18.6%

NetClass Technology stock traded up $0.44 during midday trading on Tuesday, hitting $2.80. 10,845,632 shares of the company’s stock were exchanged, compared to its average volume of 9,875,066. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $0.66 and a two-hundred day moving average of $0.57. NetClass Technology has a 12 month low of $0.22 and a 12 month high of $3.09.

NetClass Technology Company Profile

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.