Cognyte Software (NASDAQ:CGNT) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.42 and traded as high as $9.45. Cognyte Software shares last traded at $9.09, with a volume of 296,557 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CGNT shares. Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a research report on Wednesday, June 11th. Wall Street Zen upgraded 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

The company's fifty day simple moving average is $9.94 and its two-hundred day simple moving average is $9.41. The stock has a market cap of $628.44 million, a price-to-earnings ratio of -79.28 and a beta of 1.65.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share for the quarter. Cognyte Software had a negative net margin of 2.18% and a negative return on equity of 3.53%. The firm had revenue of $95.55 million for the quarter, compared to the consensus estimate of $93.96 million. On average, analysts forecast that Cognyte Software Ltd. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of Cognyte Software by 70.0% in the fourth quarter. Barclays PLC now owns 2,943 shares of the company's stock valued at $25,000 after purchasing an additional 1,212 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cognyte Software by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 99,980 shares of the company's stock valued at $865,000 after purchasing an additional 1,440 shares during the last quarter. Algert Global LLC raised its holdings in shares of Cognyte Software by 5.0% in the first quarter. Algert Global LLC now owns 32,388 shares of the company's stock valued at $253,000 after purchasing an additional 1,530 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company's stock valued at $31,000 after purchasing an additional 2,158 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Cognyte Software by 5.7% in the first quarter. Jump Financial LLC now owns 43,141 shares of the company's stock valued at $336,000 after purchasing an additional 2,341 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company's stock.

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.