Cognyte Software Ltd. (NASDAQ:CGNT) Short Interest Update

Cognyte Software Ltd. (NASDAQ:CGNT) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 399,600 shares, a drop of 28.3% from the June 15th total of 557,600 shares. Based on an average daily volume of 300,400 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Evercore ISI raised their price target on shares of Cognyte Software from $5.00 to $7.50 and gave the company an “in-line” rating in a research note on Wednesday, April 10th. Wedbush lifted their target price on Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research note on Tuesday, June 18th. Finally, StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Friday, June 21st.

Cognyte Software Trading Up 1.0 %

Shares of Cognyte Software stock traded up $0.08 on Monday, reaching $7.82. 244,774 shares of the company were exchanged, compared to its average volume of 355,221. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The firm has a market capitalization of $555.38 million, a price-to-earnings ratio of -46.00 and a beta of 1.74. The stock has a fifty day moving average price of $7.67 and a 200-day moving average price of $7.31.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, June 18th. The medical device company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.94%. The business had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.05 million. During the same quarter in the previous year, the business earned ($0.25) earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Cognyte Software will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Cognyte Software

Several institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in Cognyte Software in the fourth quarter valued at about $37,000. Covestor Ltd bought a new stake in Cognyte Software in the first quarter worth approximately $73,000. Russell Investments Group Ltd. increased its stake in shares of Cognyte Software by 8,624.3% during the 4th quarter. Russell Investments Group Ltd. now owns 20,066 shares of the medical device company’s stock worth $129,000 after purchasing an additional 19,836 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Cognyte Software by 56.1% in the 4th quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock valued at $141,000 after purchasing an additional 7,899 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Cognyte Software in the fourth quarter worth $144,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

About Cognyte Software

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.