Clarivate PLC (NYSE:CLVT) Short Interest Up 21.2% in February

Clarivate PLC (NYSE:CLVT) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 61,217,098 shares, an increase of 21.2% from the January 29th total of 50,498,661 shares. Based on an average trading volume of 9,542,428 shares, the days-to-cover ratio is currently 6.4 days. Approximately 12.0% of the company’s stock are sold short. Approximately 12.0% of the company’s stock are sold short. Based on an average trading volume of 9,542,428 shares, the days-to-cover ratio is currently 6.4 days.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating for the company in a report on Wednesday, February 25th. The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and reduced their price target for the company from $4.20 to $3.60 in a research report on Thursday, January 8th. Wall Street Zen cut Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Royal Bank Of Canada lowered their target price on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $3.22.

Clarivate Stock Performance

NYSE CLVT traded up $0.14 on Thursday, reaching $2.66. The stock had a trading volume of 3,368,722 shares, compared to its average volume of 8,094,230. Clarivate has a 1-year low of $1.66 and a 1-year high of $4.77. The company has a market cap of $1.70 billion, a P/E ratio of -8.82 and a beta of 1.55. The firm has a fifty day moving average of $2.67 and a two-hundred day moving average of $3.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.84.

Institutional Investors Weigh In On Clarivate

Several institutional investors and hedge funds have recently bought and sold shares of CLVT. FIL Ltd raised its position in shares of Clarivate by 2.3% in the 4th quarter. FIL Ltd now owns 25,266,152 shares of the company’s stock valued at $84,389,000 after buying an additional 567,170 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Clarivate by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock valued at $83,373,000 after buying an additional 696,903 shares in the last quarter. Atairos Partners GP Inc. raised its stake in Clarivate by 195.3% during the fourth quarter. Atairos Partners GP Inc. now owns 10,232,667 shares of the company’s stock worth $34,177,000 after acquiring an additional 6,767,667 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Clarivate by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock valued at $38,200,000 after purchasing an additional 1,706,306 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its position in Clarivate by 19.5% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock worth $39,958,000 after purchasing an additional 1,514,000 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.