Caravelle International Group (NASDAQ:HTCO) experienced a significant rise in short interest during December 2023. As of December 31, the total short interest reached **75,330 shares**, marking an increase of **110.5%** from the **December 15** figure of **35,791 shares**. This surge indicates that approximately **1.0%** of the company’s shares are currently short sold, which reflects growing bearish sentiment among investors.
The days-to-cover ratio, calculated using an average daily volume of **169,924 shares**, stands at **0.4 days**. This metric illustrates how quickly short sellers could cover their positions if they decided to buy back shares. On December 29, shares of Caravelle International Group traded down **8.7%**, closing at **$10.43**. During the trading session, **19,989 shares** changed hands, which is slightly below the average volume of **25,408 shares**.
The stock has fluctuated notably over the past year, reaching a 52-week low of **$4.55** and a high of **$106.25**. The company’s fifty-day simple moving average is **$10.91**, while the two-hundred-day average rests at **$8.74**. These figures indicate some volatility in the stock’s performance.
Analysts Maintain Caution
In a separate analysis, Weiss Ratings recently reaffirmed a **“sell (d-)”** rating on Caravelle International Group shares in a research report dated **December 29**. This cautious outlook reflects a broader consensus among analysts, with one rating the stock as a Sell. According to data from MarketBeat.com, the overall consensus rating for Caravelle International Group remains a **“Sell”**.
Company Overview
Caravelle International Group operates primarily in the ocean transportation sector, serving both Singapore and international markets. The company functions through two main segments: Ocean Transportation and Heating Business. It offers international shipping services along with carbon-neutral solutions for wood desiccation. Additionally, Caravelle provides seaborne transportation services under voyage contracts and collaborates with ship owners to deliver various vessel services.
Headquartered in Singapore, Caravelle International Group continues to navigate a challenging shipping landscape, marked by fluctuating demand and evolving industry standards. As the company moves forward, the growing short interest may reflect investor concerns about its financial health and market position.
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