Intercont (Cayman) Limited (NASDAQ:NCT) Sees Large Increase in Short Interest

Intercont (Cayman) Limited (NASDAQ:NCT) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 59,548 shares, a growth of 70.0% from the September 30th total of 35,033 shares. Approximately 102.7% of the company’s stock are short sold. Based on an average trading volume of 1,268,640 shares, the short-interest ratio is currently 0.0 days.

Intercont (Cayman) Price Performance

NCT stock opened at $1.41 on Tuesday. Intercont has a twelve month low of $1.22 and a twelve month high of $712.50. The firm has a 50 day simple moving average of $22.12 and a 200-day simple moving average of $69.83.

Intercont (Cayman) (NASDAQ:NCT) last issued its quarterly earnings results on Friday, October 30th. The company reported ($21.58) earnings per share (EPS) for the quarter. The company had revenue of $6.42 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Intercont (Cayman) in a research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Intercont (Cayman)

An institutional investor recently raised its stake in Intercont (Cayman) stock. Renaissance Technologies LLC lifted its stake in shares of Intercont (Cayman) Limited (NASDAQ:NCT) by 258.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 413,900 shares of the company’s stock after purchasing an additional 298,337 shares during the period. Renaissance Technologies LLC owned about 31.36% of Intercont (Cayman) worth $30,000 as of its most recent filing with the SEC.

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.