NCR Atleos Corporation (NYSE:NATL) Short Interest Up 47.8% in March

Key Points

• Short interest jumped 47.8% in March to 2,200,645 shares as of March 31, equal to about 3.0% of the company and a days-to-cover ratio of 1.5 days.
• Analyst consensus is a "Hold" (one Buy, five Hold) with a consensus price target of $50.27, amid several recent downgrades and a Weiss Ratings upgrade to Buy.
• NCR Atleos recently beat EPS estimates ($1.49 vs. $1.22) on $1.15 billion revenue; the stock traded around $44.32 with a $3.27 billion market cap and a 52-week range of $23.24–$48.50.

NCR Atleos Corporation (NYSE:NATL - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 2,200,645 shares, an increase of 47.8% from the March 15th total of 1,488,556 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily volume of 1,482,963 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NATL. Wolfe Research cut shares of NCR Atleos from a "strong-buy" rating to a "hold" rating in a report on Friday, February 27th. Stifel Nicolaus set a $50.40 target price on shares of NCR Atleos in a research note on Wednesday, March 4th. Wedbush cut shares of NCR Atleos from an "outperform" rating to a "hold" rating and lifted their price objective for the company from $45.00 to $50.40 in a report on Friday, February 27th. Weiss Ratings upgraded shares of NCR Atleos from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, March 24th. Finally, DA Davidson reissued a "neutral" rating and issued a $50.00 price target (down from $60.00) on shares of NCR Atleos in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, NCR Atleos presently has an average rating of "Hold" and a consensus price target of $50.27.

Institutional Investors Weigh In On NCR Atleos

Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC increased its position in NCR Atleos by 66.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 690 shares of the company's stock worth $26,000 after purchasing an additional 276 shares during the last quarter. First Horizon Corp bought a new position in NCR Atleos during the third quarter valued at $28,000. Salomon & Ludwin LLC boosted its stake in shares of NCR Atleos by 1,327.5% during the third quarter. Salomon & Ludwin LLC now owns 728 shares of the company's stock valued at $29,000 after purchasing an additional 677 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of NCR Atleos during the fourth quarter worth approximately $31,000. Finally, Jones Financial Companies Lllp increased its position in shares of NCR Atleos by 407.5% during the third quarter. Jones Financial Companies Lllp now owns 878 shares of the company's stock worth $34,000 after acquiring an additional 705 shares during the period. Institutional investors own 88.66% of the company's stock.

NCR Atleos Stock Down 0.3%

NYSE:NATL traded down $0.14 on Tuesday, reaching $44.32. 895,204 shares of the stock traded hands, compared to its average volume of 928,884. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 19.61 and a beta of 0.78. The company has a current ratio of 0.96, a quick ratio of 0.78 and a debt-to-equity ratio of 6.65. NCR Atleos has a 12 month low of $23.24 and a 12 month high of $48.50. The company's fifty day simple moving average is $43.16 and its 200 day simple moving average is $39.69.

NCR Atleos (NYSE:NATL - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.27. The firm had revenue of $1.15 billion during the quarter. NCR Atleos had a net margin of 3.92% and a return on equity of 84.28%. The business's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share.

NCR Atleos Company Profile

NCR Atleos Corporation operates as a financial technology company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Self-Service Banking, Network, and Telecommunications & Technology (T&T). The Self-Service Banking segment offers solutions, including a line of automated teller machine (ATM) and interactive teller machine (ITM) hardware and software, as well as related installation, maintenance, and managed and professional services; and solutions to manage and run the ATM channel end-to-end for financial institutions comprising back office, cash management, software management and ATM deployment, and others.

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