Cognyte Software Ltd. (NASDAQ:CGNT) Sees Large Increase in Short Interest

by · The Cerbat Gem

Cognyte Software Ltd. (NASDAQ:CGNT – Get Free Report) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 658,100 shares, an increase of 40.6% from the September 30th total of 468,100 shares. Based on an average daily volume of 248,400 shares, the short-interest ratio is presently 2.6 days. Currently, 1.1% of the company’s stock are short sold.

Insider Buying and Selling

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

Institutional Trading of Cognyte Software

A number of hedge funds have recently made changes to their positions in the business. Angeles Wealth Management LLC bought a new stake in Cognyte Software in the 3rd quarter valued at $437,000. Silverberg Bernstein Capital Management LLC increased its holdings in shares of Cognyte Software by 2.0% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 100,300 shares of the medical device company’s stock valued at $681,000 after purchasing an additional 2,000 shares during the last quarter. Scalar Gauge Management LLC raised its position in shares of Cognyte Software by 30.8% in the second quarter. Scalar Gauge Management LLC now owns 425,032 shares of the medical device company’s stock valued at $3,247,000 after purchasing an additional 100,000 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Cognyte Software during the 2nd quarter worth about $117,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Cognyte Software by 13.3% during the 2nd quarter. Acadian Asset Management LLC now owns 2,611,449 shares of the medical device company’s stock worth $19,928,000 after buying an additional 306,479 shares during the period. 72.92% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Price Performance

NASDAQ CGNT traded down $0.12 on Tuesday, hitting $6.58. 174,390 shares of the stock were exchanged, compared to its average volume of 313,521. The company has a market capitalization of $467.33 million, a PE ratio of -38.71 and a beta of 1.73. The business’s fifty day moving average is $6.92 and its 200 day moving average is $7.27. Cognyte Software has a 52 week low of $4.01 and a 52 week high of $8.70.

Cognyte Software (NASDAQ:CGNT – Get Free Report) last issued its earnings results on Tuesday, September 10th. The medical device company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. Cognyte Software had a negative net margin of 1.35% and a negative return on equity of 2.56%. The company had revenue of $84.40 million for the quarter, compared to analysts’ expectations of $83.69 million. During the same period in the prior year, the firm earned ($0.11) EPS. Cognyte Software’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts predict that Cognyte Software will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CGNT. Needham & Company LLC restated a “hold” rating on shares of Cognyte Software in a research note on Tuesday, September 10th. StockNews.com raised Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd.

Read Our Latest Report on Cognyte Software

About Cognyte Software

(Get Free Report)

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.

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