Cognyte Software Ltd. (NASDAQ:CGNT) Sees Large Growth in Short Interest

Cognyte Software Ltd. (NASDAQ:CGNT) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 468,100 shares, a growth of 118.2% from the September 15th total of 214,500 shares. Based on an average trading volume of 251,500 shares, the short-interest ratio is presently 1.9 days. Currently, 0.8% of the company’s stock are sold short.

Cognyte Software Stock Up 2.6 %

Shares of NASDAQ:CGNT traded up $0.17 during midday trading on Friday, reaching $6.69. The company’s stock had a trading volume of 200,365 shares, compared to its average volume of 321,824. The firm has a market capitalization of $475.14 million, a PE ratio of -39.35 and a beta of 1.73. Cognyte Software has a twelve month low of $4.00 and a twelve month high of $8.70. The stock has a fifty day moving average of $7.03 and a 200 day moving average of $7.36.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Tuesday, September 10th. The medical device company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $84.40 million for the quarter, compared to analyst estimates of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) earnings per share. Sell-side analysts anticipate that Cognyte Software will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Cognyte Software

In other news, insider Topline Capital Management, Ll bought 416,040 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the transaction, the insider now directly owns 9,020,184 shares of the company’s stock, valued at approximately $56,827,159.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Topline Capital Management, Ll purchased 416,040 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $6.30 per share, with a total value of $2,621,052.00. Following the completion of the acquisition, the insider now owns 9,020,184 shares in the company, valued at approximately $56,827,159.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp purchased 553,591 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the acquisition, the insider now owns 8,604,144 shares of the company’s stock, valued at approximately $54,292,148.64. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 62.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Cognyte Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Cognyte Software by 91.4% during the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock valued at $25,000 after purchasing an additional 1,581 shares in the last quarter. nVerses Capital LLC purchased a new position in Cognyte Software during the second quarter valued at $28,000. DT Investment Partners LLC purchased a new position in Cognyte Software during the second quarter valued at $62,000. Covestor Ltd purchased a new position in Cognyte Software during the first quarter valued at $73,000. Finally, Magnetar Financial LLC purchased a new position in Cognyte Software during the second quarter valued at $117,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CGNT shares. Wedbush raised their price target on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

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.