Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Short Interest Up 68.5% in July

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 562,700 shares, an increase of 68.5% from the June 30th total of 334,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 6,040,000 shares, the days-to-cover ratio is presently 0.1 days.

Insider Transactions at Cheetah Net Supply Chain Service

In other news, major shareholder Xiaolin Tang sold 1,500,000 shares of Cheetah Net Supply Chain Service stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $1.06, for a total value of $1,590,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders have sold 1,501,900 shares of company stock worth $1,597,093. 54.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Maxim Group restated a “hold” rating on shares of Cheetah Net Supply Chain Service in a research note on Wednesday, May 15th.

Cheetah Net Supply Chain Service Stock Down 6.6 %

Shares of CTNT traded down $0.02 on Friday, reaching $0.30. The stock had a trading volume of 1,530,771 shares, compared to its average volume of 2,868,140. The company has a current ratio of 5.08, a quick ratio of 4.95 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $1.07 and a 200-day simple moving average of $1.53. Cheetah Net Supply Chain Service has a 12-month low of $0.27 and a 12-month high of $14.76.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $1.51 million for the quarter. Cheetah Net Supply Chain Service had a negative net margin of 1.24% and a negative return on equity of 6.23%.

Cheetah Net Supply Chain Service Company Profile

Cheetah Net Supply Chain Service Inc, together with its subsidiaries, supplies parallel-import vehicles in the United States, the People's Republic of China, and internationally. It purchases and resell branded automobiles under the Mercedes, Lexus, Range Rover, RAM and Toyota brands. The company was formerly known as Yuan Qiu Business Group LLC and changed its name to Cheetah Net Supply Chain Service Inc in March 2022.