Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Significant Growth in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 52,500 shares, an increase of 73.8% from the September 30th total of 30,200 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 29,300 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an “outperform” rating and issued a $90.00 price target on shares of Climb Global Solutions in a report on Thursday, October 10th.

Climb Global Solutions Trading Down 1.0 %

Shares of NASDAQ CLMB traded down $0.99 during midday trading on Friday, hitting $101.69. The stock had a trading volume of 17,291 shares, compared to its average volume of 18,172. The firm has a market cap of $468.79 million, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.94 and a beta of 1.06. Climb Global Solutions has a fifty-two week low of $40.63 and a fifty-two week high of $110.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.10 and a quick ratio of 1.09. The company’s 50-day simple moving average is $96.67 and its 200 day simple moving average is $74.67.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.35. Climb Global Solutions had a return on equity of 18.92% and a net margin of 3.73%. The firm had revenue of $92.08 million during the quarter, compared to analyst estimates of $97.27 million. Research analysts anticipate that Climb Global Solutions will post 3.28 EPS for the current year.

Climb Global Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Friday, August 16th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, August 16th. Climb Global Solutions’s dividend payout ratio (DPR) is 22.52%.

Hedge Funds Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in shares of Climb Global Solutions by 41.8% in the 1st quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock valued at $10,370,000 after purchasing an additional 43,095 shares during the period. Vanguard Group Inc. raised its holdings in Climb Global Solutions by 3.4% in the first quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock worth $15,871,000 after purchasing an additional 7,447 shares during the period. Choreo LLC acquired a new position in shares of Climb Global Solutions in the 2nd quarter valued at $4,491,000. Lazard Asset Management LLC increased its position in shares of Climb Global Solutions by 82.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,925 shares of the company’s stock valued at $207,000 after buying an additional 1,319 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Climb Global Solutions during the third quarter worth about $159,000. 49.72% of the stock is owned by institutional investors.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.