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

Cognyte Software Ltd. (NASDAQ:CGNT) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 617,200 shares, an increase of 12.2% from the May 15th total of 550,200 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 283,300 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On Cognyte Software

Several institutional investors have recently added to or reduced their stakes in CGNT. Tidal Investments LLC purchased a new stake in Cognyte Software in the 1st quarter valued at about $515,000. Quadrature Capital Ltd grew its holdings in Cognyte Software by 111.0% in the first quarter. Quadrature Capital Ltd now owns 47,174 shares of the medical device company’s stock valued at $391,000 after purchasing an additional 24,820 shares during the period. Covestor Ltd acquired a new position in Cognyte Software during the first quarter worth approximately $73,000. Acadian Asset Management LLC increased its position in Cognyte Software by 30.3% during the first quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock worth $19,041,000 after purchasing an additional 536,393 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in Cognyte Software by 446.6% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock worth $288,000 after purchasing an additional 28,490 shares during the period. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CGNT shares. Wedbush lifted their price target on Cognyte Software from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a report on Thursday. Evercore ISI lifted their price objective on Cognyte Software from $5.00 to $7.50 and gave the stock an “in-line” rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research note on Friday, May 17th.

Cognyte Software Price Performance

Shares of Cognyte Software stock traded down $0.24 during mid-day trading on Friday, hitting $7.84. 165,770 shares of the stock were exchanged, compared to its average volume of 158,823. Cognyte Software has a twelve month low of $4.00 and a twelve month high of $8.53. The company has a 50-day simple moving average of $7.38 and a 200 day simple moving average of $7.05.

Cognyte Software (NASDAQ:CGNT) last announced its earnings results on Tuesday, April 9th. The medical device company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $83.69 million for the quarter. Cognyte Software had a negative return on equity of 12.06% and a negative net margin of 4.97%. Equities analysts predict that Cognyte Software will post -0.3 earnings per share for the current year.

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.