Netcapital Inc. (NASDAQ:NCPL) Sees Large Growth in Short Interest

Netcapital Inc. (NASDAQ:NCPL) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 93,000 shares, an increase of 167.2% from the October 15th total of 34,800 shares. Approximately 9.1% of the company’s stock are sold short. Based on an average trading volume of 315,500 shares, the days-to-cover ratio is currently 0.3 days.

Netcapital Stock Performance

NCPL traded down $0.03 on Friday, hitting $1.73. 51,957 shares of the company were exchanged, compared to its average volume of 162,446. The stock’s fifty day moving average is $1.77 and its 200-day moving average is $5.08. Netcapital has a 12 month low of $1.41 and a 12 month high of $34.23.

Netcapital (NASDAQ:NCPL) last announced its quarterly earnings data on Monday, September 16th. The company reported ($5.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($4.48). The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $1.22 million. Netcapital had a negative return on equity of 18.14% and a negative net margin of 196.48%.

About Netcapital

Netcapital Inc operates as a fintech company. It offers Netcapital.com, an SEC-registered funding portal that enables private companies to raise capital online, as well as allows investors to invest from anywhere in the world. The company also provides various services, including automated onboarding process and filing of required regulatory documents; compliance review; custom-built offering page on its portal website; third party transfer agent and custodial services; and rolling closes which provides access to liquidity before final close date of offerings, as well as assistance with annual fillings and direct access to team for ongoing support.