SharpSpring Inc (NASDAQ:SHSP) Short Interest Up 11.1% in December

Share on StockTwits

SharpSpring Inc (NASDAQ:SHSP) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 746,400 shares, an increase of 11.1% from the December 15th total of 671,600 shares. Currently, 11.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 54,000 shares, the days-to-cover ratio is currently 13.8 days.

A number of equities analysts recently weighed in on the company. ValuEngine raised SharpSpring from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of SharpSpring from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $16.71.

In related news, major shareholder Cat Rock Capital Management Lp sold 8,233 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $10.02, for a total value of $82,494.66. In the last 90 days, insiders have sold 13,699 shares of company stock worth $132,528. Corporate insiders own 25.55% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Granahan Investment Management Inc. MA bought a new stake in shares of SharpSpring in the 3rd quarter valued at about $576,000. Vanguard Group Inc. lifted its stake in shares of SharpSpring by 87.5% in the 2nd quarter. Vanguard Group Inc. now owns 550,443 shares of the technology company’s stock valued at $7,150,000 after acquiring an additional 256,817 shares during the last quarter. BlackRock Inc. increased its holdings in SharpSpring by 1,543.0% during the 2nd quarter. BlackRock Inc. now owns 559,656 shares of the technology company’s stock valued at $7,270,000 after purchasing an additional 525,593 shares during the period. State Street Corp increased its holdings in SharpSpring by 3.8% during the 3rd quarter. State Street Corp now owns 162,992 shares of the technology company’s stock valued at $1,581,000 after purchasing an additional 6,033 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in SharpSpring by 14.0% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 11,898 shares of the technology company’s stock valued at $115,000 after purchasing an additional 1,457 shares during the period. 48.61% of the stock is owned by institutional investors.

Shares of NASDAQ SHSP traded up $0.34 during midday trading on Thursday, reaching $11.48. The company had a trading volume of 2,610 shares, compared to its average volume of 51,188. SharpSpring has a one year low of $8.10 and a one year high of $21.10. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $11.04 and its 200-day moving average price is $10.73. The stock has a market cap of $129.34 million, a PE ratio of -10.38 and a beta of 1.05.

SharpSpring (NASDAQ:SHSP) last released its earnings results on Thursday, November 7th. The technology company reported ($0.23) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.23). SharpSpring had a negative return on equity of 44.29% and a negative net margin of 54.83%. The company had revenue of $5.72 million during the quarter, compared to analyst estimates of $5.71 million. As a group, equities research analysts expect that SharpSpring will post -1.18 EPS for the current year.

SharpSpring Company Profile

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

Read More: How does a dividend reinvestment plan work?

Receive News & Ratings for SharpSpring Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SharpSpring and related companies with MarketBeat.com's FREE daily email newsletter.