Cognyte Software Ltd. (NASDAQ:CGNT) Short Interest Up 118.2% in September

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

Cognyte Software Price Performance

Shares of CGNT stock traded up $0.17 during trading on Friday, reaching $6.69. The company had a trading volume of 200,365 shares, compared to its average volume of 321,824. The company has a market capitalization of $475.14 million, a PE ratio of -39.35 and a beta of 1.73. The firm’s 50 day simple moving average is $7.03 and its two-hundred day simple moving average is $7.36. Cognyte Software has a one year low of $4.00 and a one year high of $8.70.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings data on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The business had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. During the same period in the previous year, the company earned ($0.11) earnings per share. Cognyte Software’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts forecast that Cognyte Software will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CGNT shares. Wedbush upped their target price on Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research report on Tuesday, September 10th. Finally, StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Insider Activity

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

Institutional Investors Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC increased its position in Cognyte Software by 91.4% during the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. nVerses Capital LLC acquired a new position in shares of Cognyte Software during the second quarter valued at about $28,000. DT Investment Partners LLC bought a new stake in shares of Cognyte Software in the second quarter valued at about $62,000. Covestor Ltd acquired a new stake in Cognyte Software during the first quarter worth about $73,000. Finally, Magnetar Financial LLC bought a new position in Cognyte Software during the second quarter valued at about $117,000. 72.92% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Company Profile

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.