Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Sees Significant Decline in Short Interest

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 188,874 shares, a drop of 75.4% from the June 30th total of 766,513 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average trading volume of 417,899 shares, the days-to-cover ratio is presently 0.5 days.

Cheetah Net Supply Chain Service Trading Up 16.1%

CTNT stock traded up $0.24 during trading on Friday, reaching $1.73. 2,974,909 shares of the stock were exchanged, compared to its average volume of 1,413,694. The company has a current ratio of 43.19, a quick ratio of 43.19 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $1.69 and a 200-day moving average price of $139.24. Cheetah Net Supply Chain Service has a 1 year low of $1.43 and a 1 year high of $424.00. The firm has a market capitalization of $5.12 million, a price-to-earnings ratio of -0.01 and a beta of -0.93.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($4.53) earnings per share for the quarter, beating the consensus estimate of ($10.00) by $5.47. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations 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%.

Insider Activity

In other news, insider Huan Liu acquired 200,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were bought at an average price of $2.00 per share, for a total transaction of $400,000.00. Following the acquisition, the insider owned 200,877 shares of the company’s stock, valued at approximately $401,754. This trade represents a 22,805.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.47% of the stock is owned by corporate insiders.

Institutional Investors 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 holdings in shares of Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) by 106.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,926 shares of the company’s stock after purchasing an additional 24,212 shares during the quarter. Citadel Advisors LLC owned about 1.72% of Cheetah Net Supply Chain Service worth $83,000 as of its most recent filing with the Securities and Exchange Commission. 0.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CTNT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cheetah Net Supply Chain Service in a report on Thursday, June 18th. Wall Street Zen raised Cheetah Net Supply Chain Service to a “hold” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Cheetah Net Supply Chain Service has a consensus rating of “Sell”.

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.