Short Interest in Climb Global Solutions, Inc. (NASDAQ:CLMB) Increases By 25.6%

Climb Global Solutions, Inc. (NASDAQ:CLMB) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 319,218 shares, an increase of 25.6% from the February 26th total of 254,240 shares. Based on an average trading volume of 82,582 shares, the days-to-cover ratio is currently 3.9 days. Currently, 7.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

CLMB has been the topic of a number of research analyst reports. Northland Securities began coverage on shares of Climb Global Solutions in a research report on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective on the stock. Barrington Research decreased their target price on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Wall Street Zen cut shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Northcoast Research raised shares of Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Climb Global Solutions has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Stock Up 0.3%

Shares of CLMB traded up $0.05 during mid-day trading on Wednesday, hitting $19.87. 8,268 shares of the company’s stock were exchanged, compared to its average volume of 298,045. The stock has a market cap of $366.14 million, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.22 and a beta of 1.18. The firm has a fifty day moving average of $25.20 and a two-hundred day moving average of $28.04. Climb Global Solutions has a twelve month low of $18.91 and a twelve month high of $36.26.

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

Insiders Place Their Bets

In other news, CEO Dale Richard Foster sold 34,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the transaction, the chief executive officer owned 294,760 shares in the company, valued at $5,932,045. This represents a 10.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Climb Global Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. AltraVue Capital LLC bought a new position in Climb Global Solutions in the 3rd quarter worth $13,817,000. Wasatch Advisors LP boosted its holdings in Climb Global Solutions by 29.5% during the second quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock valued at $30,056,000 after acquiring an additional 63,975 shares during the period. Invesco Ltd. grew its position in shares of Climb Global Solutions by 2,446.4% in the third quarter. Invesco Ltd. now owns 65,263 shares of the company’s stock valued at $8,800,000 after purchasing an additional 62,700 shares during the last quarter. Tieton Capital Management LLC increased its stake in shares of Climb Global Solutions by 83.9% in the fourth quarter. Tieton Capital Management LLC now owns 111,984 shares of the company’s stock worth $11,511,000 after purchasing an additional 51,088 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Climb Global Solutions by 41.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 145,416 shares of the company’s stock worth $14,947,000 after purchasing an additional 42,938 shares during the period. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Company Profile

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.