Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Short Interest Up 187.7% in October

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 138,400 shares, an increase of 187.7% from the October 15th total of 48,100 shares. Based on an average daily volume of 186,600 shares, the days-to-cover ratio is presently 0.7 days. Currently, 8.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cheetah Net Supply Chain Service stock. Renaissance Technologies LLC purchased a new position in shares of Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 195,800 shares of the company’s stock, valued at approximately $81,000. Renaissance Technologies LLC owned about 1.09% of Cheetah Net Supply Chain Service as of its most recent SEC filing. 0.04% of the stock is currently owned by institutional investors and hedge funds.

Cheetah Net Supply Chain Service Stock Performance

Shares of CTNT opened at $2.05 on Friday. The firm has a market cap of $4.14 million, a P/E ratio of -2.58 and a beta of 4.50. Cheetah Net Supply Chain Service has a twelve month low of $1.90 and a twelve month high of $236.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 10.98 and a current ratio of 10.98. The firm’s 50 day moving average price is $3.40 and its two-hundred day moving average price is $12.09.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.32). Cheetah Net Supply Chain Service had a negative return on equity of 13.07% and a negative net margin of 6.43%. The company had revenue of $0.29 million for the quarter.

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.