Short Interest in WalkMe Ltd. (NASDAQ:WKME) Grows By 216.0%

WalkMe Ltd. (NASDAQ:WKME) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 1,310,000 shares, a growth of 216.0% from the May 31st total of 414,500 shares. Based on an average daily volume of 694,300 shares, the short-interest ratio is currently 1.9 days. Approximately 5.0% of the shares of the stock are sold short.

WalkMe Price Performance

WKME stock traded down $0.02 on Friday, reaching $13.97. The company had a trading volume of 403,603 shares, compared to its average volume of 2,036,288. The company’s fifty day moving average is $10.36 and its 200 day moving average is $9.80. WalkMe has a 1 year low of $7.60 and a 1 year high of $14.09.

WalkMe (NASDAQ:WKME) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.06. The firm had revenue of $68.57 million during the quarter, compared to analysts’ expectations of $68.10 million. WalkMe had a negative return on equity of 43.53% and a negative net margin of 14.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WKME shares. BMO Capital Markets cut their price target on shares of WalkMe from $11.50 to $10.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. Citigroup reduced their price target on shares of WalkMe from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. Barclays lowered their price target on WalkMe from $8.50 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley reduced their price objective on WalkMe from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, KeyCorp began coverage on WalkMe in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.86.

Hedge Funds Weigh In On WalkMe

A number of institutional investors have recently modified their holdings of WKME. Acadian Asset Management LLC acquired a new position in WalkMe in the 3rd quarter valued at $884,000. Corton Capital Inc. grew its position in shares of WalkMe by 114.1% in the third quarter. Corton Capital Inc. now owns 39,851 shares of the company’s stock valued at $378,000 after purchasing an additional 21,236 shares during the period. Citigroup Inc. increased its stake in WalkMe by 6.5% in the third quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock valued at $228,000 after purchasing an additional 1,472 shares during the last quarter. Trexquant Investment LP acquired a new position in WalkMe in the fourth quarter valued at $135,000. Finally, Circumference Group LLC purchased a new position in WalkMe during the fourth quarter worth about $977,000. Institutional investors and hedge funds own 70.91% of the company’s stock.

About WalkMe

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's AI-driven digital adoption platform helps companies to effectively navigate change brought by technology, which stack, identifies, and delivers the personalized guidance and automation.