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

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 350,100 shares, a drop of 45.3% from the March 31st total of 639,800 shares. Approximately 0.6% of the company's stock are sold short. Based on an average trading volume of 371,600 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

CGNT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognyte Software in a research report on Tuesday, April 8th. StockNews.com raised shares of Cognyte Software from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 12th.

Cognyte Software Price Performance

CGNT opened at $9.78 on Tuesday. Cognyte Software has a one year low of $6.21 and a one year high of $11.16. The stock has a market capitalization of $704.72 million, a P/E ratio of -51.47 and a beta of 1.76. The company's 50 day simple moving average is $8.88 and its 200-day simple moving average is $8.60.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $94.51 million for the quarter, compared to analysts' expectations of $93.15 million. Cognyte Software had a negative net margin of 3.95% and a negative return on equity of 13.30%. During the same period last year, the firm earned ($0.23) earnings per share. As a group, analysts anticipate that Cognyte Software will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Cognyte Software by 70.0% during the fourth quarter. Barclays PLC now owns 2,943 shares of the company's stock worth $25,000 after acquiring an additional 1,212 shares during the period. R Squared Ltd acquired a new stake in shares of Cognyte Software during the fourth quarter worth $26,000. Russell Investments Group Ltd. raised its holdings in shares of Cognyte Software by 1,695.7% during the fourth quarter. Russell Investments Group Ltd. now owns 4,130 shares of the company's stock worth $36,000 after acquiring an additional 3,900 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Cognyte Software during the fourth quarter worth $71,000. Finally, Jane Street Group LLC acquired a new stake in shares of Cognyte Software during the fourth quarter worth $112,000. 72.92% of the stock is owned by institutional investors.

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.

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