Trend Micro Inc. (OTCMKTS:TMICY) Shares Shorted: Short Interest Up 821.7% in October

Key Points

• Trend Micro’s short interest surged 821.7% in October to 1,825 shares from 198 shares, though short interest still represents 0.0% of shares outstanding and amounts to just 0.1 days to cover.
• Analyst sentiment is mixed: Zacks downgraded the stock to “strong sell,” while MarketBeat’s overall consensus remains “Moderate Buy.”
• TMICY shares opened at $48.33, up 2.5%, with a $6.32 billion market capitalization. In its latest quarter, Trend Micro reported $0.17 in EPS—below the $0.40 consensus—but revenue of $469.4 million exceeded expectations.

Trend Micro Inc. (OTCMKTS:TMICY - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,825 shares, an increase of 821.7% from the September 30th total of 198 shares. Based on an average daily trading volume, of 13,259 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Trend Micro from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Trend Micro currently has a consensus rating of "Moderate Buy".

Trend Micro Trading Up 2.5%

Shares of TMICY stock opened at $48.33 on Tuesday. Trend Micro has a 12-month low of $31.09 and a 12-month high of $52.11. The firm's 50 day moving average is $40.83 and its 200 day moving average is $38.12. The stock has a market capitalization of $6.32 billion, a P/E ratio of 27.46 and a beta of 0.80.

Trend Micro (OTCMKTS:TMICY - Get Free Report) last announced its earnings results on Thursday, August 13th. The technology company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.23). The company had revenue of $469.40 million for the quarter, compared to analysts' expectations of $456.51 million. Trend Micro had a net margin of 12.30% and a return on equity of 28.58%. As a group, equities analysts predict that Trend Micro will post 1.41 earnings per share for the current year.

Trend Micro Company Profile

Trend Micro Incorporated is a global cybersecurity company that develops security solutions for businesses, governments and individual consumers. Its products and services are designed to protect endpoints, servers, networks, email systems, cloud environments and connected devices from malware, ransomware, phishing and other cyber threats.

The company offers cloud and network security, endpoint protection, email security, data center security and extended detection and response (XDR) solutions.

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