Cognyte Software Ltd. (NASDAQ:CGNT) Sees Significant Growth in Short Interest

Cognyte Software Ltd. (NASDAQ:CGNT) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 468,100 shares, a growth of 118.2% from the September 15th total of 214,500 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 251,500 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

CGNT has been the topic of a number of research reports. StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wedbush boosted 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th.

Insider Buying and Selling at Cognyte Software

In other news, major shareholder Topline Capital Partners, Lp bought 553,591 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $6.31 per share, with a total value of $3,493,159.21. Following the transaction, the insider now owns 8,604,144 shares of the company’s stock, valued at $54,292,148.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cognyte Software news, insider Topline Capital Management, Ll acquired 416,040 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $6.30 per share, for a total transaction of $2,621,052.00. Following the completion of the purchase, the insider now directly owns 9,020,184 shares in the company, valued at $56,827,159.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp acquired 553,591 shares of Cognyte Software stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $6.31 per share, with a total value of $3,493,159.21. Following the transaction, the insider now directly owns 8,604,144 shares in the company, valued at approximately $54,292,148.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 62.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of Cognyte Software by 91.4% during the 2nd quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after purchasing an additional 1,581 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Cognyte Software during the second quarter worth approximately $28,000. DT Investment Partners LLC bought a new position in shares of Cognyte Software in the second quarter valued at approximately $62,000. Covestor Ltd acquired a new position in shares of Cognyte Software in the 1st quarter worth approximately $73,000. Finally, Magnetar Financial LLC bought a new stake in Cognyte Software during the 2nd quarter worth approximately $117,000. Institutional investors own 72.92% of the company’s stock.

Cognyte Software Stock Performance

Shares of NASDAQ CGNT traded up $0.02 during mid-day trading on Friday, reaching $6.54. 8,915 shares of the company traded hands, compared to its average volume of 320,830. The company’s fifty day moving average is $7.04 and its two-hundred day moving average is $7.37. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70.

Cognyte Software (NASDAQ:CGNT) last released its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $83.69 million. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. As a group, equities research analysts expect that Cognyte Software will post -0.28 earnings per share for the current fiscal 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.