Short Interest in Netcapital Inc. (NASDAQ:NCPL) Grows By 486.4%

Netcapital Inc. (NASDAQ:NCPL) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 25,800 shares, a growth of 486.4% from the August 31st total of 4,400 shares. Based on an average daily volume of 200,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Netcapital stock. Armistice Capital LLC purchased a new stake in shares of Netcapital Inc. (NASDAQ:NCPL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 860,000 shares of the company’s stock, valued at approximately $182,000. Armistice Capital LLC owned about 6.03% of Netcapital at the end of the most recent quarter. Institutional investors own 30.69% of the company’s stock.

Netcapital Stock Performance

Shares of NASDAQ NCPL traded up $0.05 during mid-day trading on Wednesday, reaching $1.68. The company had a trading volume of 188,037 shares, compared to its average volume of 110,712. Netcapital has a one year low of $1.44 and a one year high of $47.59. The firm has a market cap of $1.29 million, a price-to-earnings ratio of -32.60 and a beta of -0.56. The business’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $6.95.

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

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.