Short Interest in Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) Decreases By 56.7%

Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 334,000 shares, a decrease of 56.7% from the June 15th total of 771,600 shares. Based on an average daily trading volume, of 5,580,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.7% of the company’s stock are sold short.

Cheetah Net Supply Chain Service Stock Up 4.1 %

Shares of NASDAQ CTNT traded up $0.02 during mid-day trading on Friday, reaching $0.52. 1,102,688 shares of the company were exchanged, compared to its average volume of 2,858,048. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.95 and a current ratio of 5.08. Cheetah Net Supply Chain Service has a 52 week low of $0.40 and a 52 week high of $14.76. The company’s 50 day moving average price is $1.60 and its 200 day moving average price is $1.59.

Cheetah Net Supply Chain Service (NASDAQ:CTNT) last released its earnings results on Monday, May 13th. The company reported ($0.03) earnings per share 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 firm had revenue of $1.51 million during the quarter.

Wall Street Analyst Weigh In

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

Insider Activity at Cheetah Net Supply Chain Service

In other Cheetah Net Supply Chain Service news, major shareholder Xiaolin Tang sold 1,500,000 shares of Cheetah Net Supply Chain Service stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 1,502,000 shares of company stock valued at $1,597,239. 54.72% of the stock is 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.