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

NetClass Technology Inc (NASDAQ:NTCL) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 12,885 shares, a decrease of 98.1% from the June 30th total of 689,185 shares. Based on an average daily volume of 89,575 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.1% of the company’s shares are short sold.

Analysts Set New Price Targets

NTCL has been the topic of several research reports. Wall Street Zen downgraded NetClass Technology to a “strong sell” rating in a report on Sunday, July 12th. Weiss Ratings lowered NetClass Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

NetClass Technology Price Performance

NTCL stock traded down $0.19 during trading on Friday, reaching $3.30. 22,319 shares of the company traded hands, compared to its average volume of 80,670. The business has a 50 day simple moving average of $25.33 and a 200 day simple moving average of $21.51. NetClass Technology has a 12 month low of $3.10 and a 12 month high of $155.00.

NetClass Technology (NASDAQ:NTCL) last announced its earnings results on Wednesday, July 22nd. The company reported ($6.35) EPS for the quarter. The business had revenue of $3.18 million for the quarter.

Institutional Investors Weigh In On NetClass Technology

An institutional investor recently bought a new stake in NetClass Technology stock. Engineers Gate Manager LP acquired a new stake in shares of NetClass Technology Inc (NASDAQ:NTCL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 SEC filing.

About NetClass Technology

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.