Intercont (Cayman) Limited (NASDAQ:NCT) Stock Short Interest Report for September

Intercont (Cayman) Limited (NASDAQ:NCT) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 35,033 shares, a decline of 98.9% from the September 15th total of 3,134,393 shares. Approximately 66.1% of the company’s shares are sold short. Based on an average daily volume of 729,420 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Intercont (Cayman)

An institutional investor recently raised its position in Intercont (Cayman) stock. Renaissance Technologies LLC raised its position in Intercont (Cayman) Limited (NASDAQ:NCT) by 258.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,900 shares of the company’s stock after purchasing an additional 298,337 shares during the quarter. Renaissance Technologies LLC owned 31.36% of Intercont (Cayman) worth $30,000 at the end of the most recent quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on NCT. Wall Street Zen upgraded Intercont (Cayman) to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Intercont (Cayman) in a research note on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Intercont (Cayman) Stock Down 9.7%

Shares of NASDAQ NCT traded down $0.16 during trading on Friday, hitting $1.49. 230,877 shares of the company traded hands, compared to its average volume of 1,600,931. The company has a 50-day moving average price of $49.66 and a 200-day moving average price of $61.73. Intercont has a 1 year low of $1.25 and a 1 year high of $906.25.

About Intercont (Cayman)

Intercont (Cayman) Ltd. is a holding company, which engages in the provision of global maritime shipping services through its subsidiaries. Its services include time chartering and vessel management. The company was founded on July 4, 2023 and is headquartered in Hong Kong.