Cognyte Software Ltd. (NASDAQ:CGNT – Get Rating) posted a significant gain in short selling in December. As of December 30, there were a total of 785,700 shares shorted, up 20.2% from the December 15 total of 653,400 shares. Based on an average trading volume of 1,280,000 shares, the ratio of days covered is currently 0.6 days. Currently, his 1.2% of the company’s shares are sold short.
Hedge Fund Joins Cognyte Software
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Many institutional investors have recently increased or decreased their stakes in the company. Handelsbanken Fonder AB increased his Cognyte Software holding by 16.3% in the second quarter. Handelsbanken Fonder AB now owns 15,700 shares in the medical device company worth $67,000 after he bought an additional 2,200 shares last quarter. Envestnet Asset Management Inc. increased its stake in Cognyte Software by 29.7% in the first quarter. Envestnet Asset Management Inc. now owns 13,112 shares of the medical device company worth $148,000 after purchasing an additional 3,000 of his shares last quarter. Quantbot Technologies LP earned his $45,000 worth of new positions at Cognyte Software in the first quarter. US Bancorp DE increased his Cognyte Software holding by 27.5% in the second quarter. US Bancorp DE now owns 18,803 shares of the medical device company worth $79,000 after he bought an additional 4,053 shares last quarter. Finally, Jump Financial LLC increased its stake in Cognyte Software by 30.5% in the third quarter. Jump Financial LLC now owns 19,378 shares of the medical device company worth $78,000 after purchasing an additional 4,527 shares last quarter. Institutional investors and hedge funds own 84.93% of the company’s shares.
Wall Street analyst opinion
Recently, several research firms have considered CGNT. Stifel Nicolaus lowered his price target on Cognyte Software stock from his $6.00 to his $3.00 in a report on Wednesday, Dec. 21, giving the stock a “hold” rating. StockNews.com downgraded Cognyte Software’s stock from a ‘hold’ rating to a ‘sell’ rating in a report on Tuesday, December 13th. One research analyst has given the stock a sell rating, four issued a hold rating, and one has assigned a buy rating to the company’s stock. According to MarketBeat, the current consensus rating for the stock is ‘hold’ with an average target price of $8.00.
Cognyte software up 4.8%
CGNT shares climbed $0.17 in Friday trading to reach $3.74. Stock trading volume was 480,058 shares, with an average volume of 754,574 shares. Cognyte Software’s all-year low is $2.31 and all-year high is $12.82. The company has a market cap of $252.38 million, a P/E ratio of -2.53 and a beta of 1.20. The company has a 50-day moving average price of $3.10 and a 200-day moving average price of $3.81.
About Cognite Software
(get rating)
Cognyte Software Ltd. provides research and analysis software to governments and businesses around the world. Its Actionable Intelligence for a Safer World is open software designed to help governments and businesses accelerate and enhance investigative effectiveness. The company also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.
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