707 Cayman (NASDAQ:JEM) Stock Price Down 9.3% - Time to Sell?

Key Points

• Shares of 707 Cayman Holdings Limited (NASDAQ:JEM) fell by 9.3% during trading, dropping to a low of $2.20, with a last traded price of $2.35.
• Wall Street Zen upgraded the stock to a "hold" rating, signaling that analysts are less pessimistic about its near-term performance.
• Geode Capital Management LLC acquired a new stake in 707 Cayman, purchasing 13,807 shares valued at approximately $72,000, indicating institutional interest in the company.

707 Cayman Holdings Limited (NASDAQ:JEM - Get Free Report)'s share price fell 9.3% during mid-day trading on Wednesday . The company traded as low as $2.20 and last traded at $2.35. 468,903 shares were traded during mid-day trading, a decline of 16% from the average session volume of 559,785 shares. The stock had previously closed at $2.59.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of 707 Cayman to a "hold" rating in a research note on Saturday, July 5th.

707 Cayman Stock Performance

The business has a 50-day moving average price of $4.28.

Institutional Investors Weigh In On 707 Cayman

A hedge fund recently bought a new stake in 707 Cayman stock. Geode Capital Management LLC purchased a new stake in shares of 707 Cayman Holdings Limited (NASDAQ:JEM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,807 shares of the company's stock, valued at approximately $72,000. Geode Capital Management LLC owned approximately 0.06% of 707 Cayman at the end of the most recent quarter.

707 Cayman Company Profile

We are a Hong Kong-based company that sells quality apparel products and provides supply chain management total solutions to our customers spanning from Western Europe, North America to the Middle East. We were founded in 2021 and became wholly-owned by Mr. Cheung, executive director and chief executive officer, in May 2022 and have grown, in a short period of time, building relationships with a diverse range of customers.