Short Interest in Netcapital Inc. (NASDAQ:NCPL) Grows By 173.8%

Netcapital Inc. (NASDAQ:NCPL) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 327,700 shares, an increase of 173.8% from the March 31st total of 119,700 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 523,100 shares, the days-to-cover ratio is presently 0.6 days.

Netcapital Price Performance

Shares of NASDAQ NCPL remained flat at $0.13 during trading hours on Friday. The company had a trading volume of 1,020,645 shares, compared to its average volume of 554,330. The company’s 50 day moving average price is $0.13 and its 200-day moving average price is $0.23. Netcapital has a 1-year low of $0.11 and a 1-year high of $2.73. The firm has a market capitalization of $2.60 million, a P/E ratio of -2.60 and a beta of -0.43.

Netcapital (NASDAQ:NCPL) last posted its earnings results on Monday, March 18th. The company reported ($0.19) EPS for the quarter. Netcapital had a negative return on equity of 3.55% and a negative net margin of 17.74%. The business had revenue of $1.04 million during the quarter. Equities research analysts anticipate that Netcapital will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven F. Geary bought 239,274 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was bought at an average price of $0.13 per share, with a total value of $31,105.62. Following the purchase, the director now directly owns 249,574 shares of the company’s stock, valued at approximately $32,444.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Netcapital stock. Armistice Capital LLC purchased a new stake in Netcapital Inc. (NASDAQ:NCPL) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 860,000 shares of the company’s stock, valued at approximately $182,000. Armistice Capital LLC owned about 6.03% of Netcapital as of its most recent filing with the Securities & Exchange Commission. 30.69% of the stock is currently owned by institutional investors.

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.