GTY Technology Holdings Inc (NASDAQ:GTYH) Sees Large Drop in Short Interest

GTY Technology Holdings Inc (NASDAQ:GTYH) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,240,000 shares, a decrease of 5.3% from the October 31st total of 1,310,000 shares. Based on an average daily trading volume, of 130,700 shares, the days-to-cover ratio is presently 9.5 days. Approximately 2.8% of the company’s shares are short sold.

GTYH opened at $4.93 on Monday. GTY Technology has a twelve month low of $4.53 and a twelve month high of $12.24. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $5.19 and a 200-day moving average of $6.58.

GTY Technology (NASDAQ:GTYH) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.17) earnings per share for the quarter. The firm had revenue of $8.75 million for the quarter.

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of GTY Technology during the second quarter worth $58,000. Tower Research Capital LLC TRC acquired a new stake in GTY Technology in the second quarter worth $71,000. Macquarie Group Ltd. acquired a new stake in GTY Technology in the second quarter worth $72,000. FNY Investment Advisers LLC acquired a new stake in GTY Technology in the second quarter worth $85,000. Finally, Metropolitan Life Insurance Co NY acquired a new stake in GTY Technology in the third quarter worth $84,000. Institutional investors own 28.72% of the company’s stock.

Several research firms have recently weighed in on GTYH. Citigroup began coverage on shares of GTY Technology in a research report on Friday, August 23rd. They set a “neutral” rating and a $7.00 price objective for the company. ValuEngine upgraded shares of GTY Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 21st.

About GTY Technology

GTY Technology Holdings Inc provides cloud-based suite of solutions for state and local governments in North America. The company develops software technologies for the procurement and vendor or supplier sourcing industry in government, public sector, and various highly-regulated commercial vertical markets; content, digital, and integrated payment services via a software-as-a-service platform for government agencies and utility companies.

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