Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Short Interest Up 511.3% in June

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 212,861 shares, a growth of 511.3% from the May 31st total of 34,819 shares. Based on an average daily volume of 2,868,836 shares, the days-to-cover ratio is presently 0.1 days. Currently, 9.5% of the shares of the stock are short sold.

Cheetah Net Supply Chain Service Stock Performance

CTNT remained flat at $1.56 during midday trading on Friday. The company’s stock had a trading volume of 114,125 shares, compared to its average volume of 2,870,112. The firm has a market cap of $4.62 million, a PE ratio of -0.01 and a beta of -0.89. Cheetah Net Supply Chain Service has a 12-month low of $1.47 and a 12-month high of $424.00. The company’s 50 day simple moving average is $3.69 and its 200-day simple moving average is $175.20. The company has a quick ratio of 43.19, a current ratio of 43.19 and a debt-to-equity ratio of 0.01.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($4.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($10.00) by $5.47. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.20 million. Cheetah Net Supply Chain Service had a negative net margin of 389.47% and a negative return on equity of 17.62%.

Analyst Ratings Changes

A number of research firms have issued reports on CTNT. Wall Street Zen upgraded shares of Cheetah Net Supply Chain Service to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Cheetah Net Supply Chain Service in a research note on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cheetah Net Supply Chain Service presently has a consensus rating of “Sell”.

Insider Buying and Selling at Cheetah Net Supply Chain Service

In other news, insider Huan Liu purchased 200,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average price of $2.00 per share, for a total transaction of $400,000.00. Following the completion of the acquisition, the insider directly owned 200,877 shares in the company, valued at approximately $401,754. The trade was a 22,805.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 24.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cheetah Net Supply Chain Service

An institutional investor recently raised its position in Cheetah Net Supply Chain Service stock. Citadel Advisors LLC lifted its position in Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) by 106.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,926 shares of the company’s stock after buying an additional 24,212 shares during the period. Citadel Advisors LLC owned about 1.72% of Cheetah Net Supply Chain Service worth $83,000 as of its most recent SEC filing. 0.04% of the stock is currently owned by hedge funds and other institutional investors.

About Cheetah Net Supply Chain Service

Cheetah Net Supply Chain Service Group, Inc, through its subsidiaries, operates as an integrated supply chain service provider primarily focused on meeting the needs of cross-border e-commerce and consumer goods companies. The company delivers end-to-end supply chain solutions, leveraging an internet-driven platform to enhance transparency, efficiency and cost control across clients’ procurement and logistics operations.

Key offerings include supply chain design and consulting, global procurement and sourcing support, quality control and inspection, as well as bonded and non-bonded warehousing services.