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

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 882,291 shares, an increase of 525.6% from the August 31st total of 141,023 shares. Approximately 31.9% of the shares of the stock are sold short. Based on an average trading volume of 36,505,027 shares, the days-to-cover ratio is currently 0.0 days.

Cheetah Net Supply Chain Service Trading Down 1.9%

NASDAQ CTNT traded down $0.00 on Friday, hitting $0.03. 504,590,516 shares of the stock were exchanged, compared to its average volume of 95,328,952. The company has a debt-to-equity ratio of 0.01, a quick ratio of 47.56 and a current ratio of 47.56. Cheetah Net Supply Chain Service has a 52-week low of $0.03 and a 52-week high of $424.00. The firm has a market capitalization of $93,240.00, a P/E ratio of -0.00 and a beta of -1.00. The stock has a fifty day moving average price of $1.27 and a two-hundred day moving average price of $57.42.

Cheetah Net Supply Chain Service shares are going to reverse split before the market opens on Monday, September 28th. The 1-150 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, September 27th.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.70. Cheetah Net Supply Chain Service had a negative net margin of 206.70% and a negative return on equity of 7.88%. The company had revenue of $0.87 million during the quarter, compared to analyst estimates of $0.10 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cheetah Net Supply Chain Service in a report on Monday, September 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Cheetah Net Supply Chain Service

Cheetah Net Supply Chain Service Limited (NASDAQ: CTNT) is a supply chain services company focused primarily on the parallel importation and distribution of automobiles. Through its operating subsidiaries, the company sources vehicles from the United States and facilitates their sale and delivery to customers and automotive dealers in overseas markets, particularly China.

The company’s activities may include vehicle procurement, export coordination, international transportation, customs-related support and other logistics services associated with cross-border automobile transactions.