Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Short Interest Down 5.7% in June

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 771,600 shares, a decrease of 5.7% from the May 31st total of 818,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily trading volume, of 5,230,000 shares, the days-to-cover ratio is currently 0.1 days.

Cheetah Net Supply Chain Service Stock Performance

Cheetah Net Supply Chain Service stock traded down $0.10 during trading on Wednesday, reaching $0.49. The company had a trading volume of 2,693,603 shares, compared to its average volume of 2,828,651. Cheetah Net Supply Chain Service has a 52 week low of $0.40 and a 52 week high of $14.76. The firm’s 50-day simple moving average is $1.71 and its 200 day simple moving average is $1.62. The firm has a market capitalization of $8.71 million and a price-to-earnings ratio of -48.59. The company has a current ratio of 5.08, a quick ratio of 4.95 and a debt-to-equity ratio of 0.09.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, major shareholder Xiaolin Tang sold 1,500,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $1.06, for a total transaction of $1,590,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 1,502,000 shares of company stock worth $1,597,239 over the last 90 days. 54.72% of the stock is currently owned by insiders.

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.