Short Interest in Climb Global Solutions, Inc. (NASDAQ:CLMB) Drops By 14.3%

Climb Global Solutions, Inc. (NASDAQ:CLMB) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 243,457 shares, a drop of 14.3% from the January 29th total of 284,200 shares. Approximately 5.6% of the company’s shares are sold short. Based on an average daily trading volume, of 51,518 shares, the short-interest ratio is currently 4.7 days. Based on an average daily trading volume, of 51,518 shares, the short-interest ratio is currently 4.7 days. Approximately 5.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Climb Global Solutions

Several institutional investors and hedge funds have recently modified their holdings of CLMB. Aviva PLC bought a new position in Climb Global Solutions in the second quarter valued at approximately $473,000. Conestoga Capital Advisors LLC bought a new stake in shares of Climb Global Solutions during the third quarter worth $1,210,000. New York State Common Retirement Fund raised its holdings in shares of Climb Global Solutions by 1,069.8% during the third quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock worth $2,894,000 after acquiring an additional 19,630 shares during the period. Thrivent Financial for Lutherans lifted its position in Climb Global Solutions by 37.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock valued at $13,818,000 after acquiring an additional 28,089 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Climb Global Solutions in the 2nd quarter valued at $999,000. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Price Performance

Climb Global Solutions stock opened at $90.58 on Thursday. The firm has a market capitalization of $417.57 million, a price-to-earnings ratio of 19.48, a PEG ratio of 1.34 and a beta of 1.18. The company’s 50 day simple moving average is $113.09 and its 200 day simple moving average is $118.02. Climb Global Solutions has a fifty-two week low of $80.08 and a fifty-two week high of $145.02.

Climb Global Solutions’s stock is set to split on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly issued shares will be issued to shareholders after the market closes on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The business had revenue of $193.85 million for the quarter, compared to the consensus estimate of $167.75 million. As a group, analysts predict that Climb Global Solutions will post 4.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CLMB. Barrington Research reissued an “outperform” rating and set a $136.00 price objective on shares of Climb Global Solutions in a report on Friday, February 20th. Wall Street Zen cut shares of Climb Global Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings downgraded shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $136.00.

About Climb Global Solutions

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.