Tenable Holdings Inc (NASDAQ:TENB) Sees Large Decline in Short Interest

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Tenable Holdings Inc (NASDAQ:TENB) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,180,000 shares, a drop of 14.5% from the September 30th total of 2,550,000 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily volume of 656,900 shares, the days-to-cover ratio is presently 3.3 days.

In other news, Director John C. Huffard, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $25.48, for a total value of $1,274,000.00. Also, Director John C. Huffard, Jr. sold 25,466 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $24.98, for a total value of $636,140.68. Company insiders own 31.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dean Capital Investments Management LLC lifted its stake in Tenable by 27.3% during the third quarter. Dean Capital Investments Management LLC now owns 29,757 shares of the company’s stock worth $666,000 after purchasing an additional 6,378 shares during the period. Tower Research Capital LLC TRC lifted its stake in Tenable by 333.8% during the third quarter. Tower Research Capital LLC TRC now owns 4,668 shares of the company’s stock worth $105,000 after purchasing an additional 3,592 shares during the period. Russell Investments Group Ltd. lifted its stake in Tenable by 278.7% during the third quarter. Russell Investments Group Ltd. now owns 74,787 shares of the company’s stock worth $1,674,000 after purchasing an additional 55,037 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in Tenable by 7.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 558,060 shares of the company’s stock worth $12,489,000 after purchasing an additional 39,825 shares during the period. Finally, Gladstone Capital Management LLP bought a new position in Tenable during the third quarter worth about $1,155,000. Hedge funds and other institutional investors own 53.39% of the company’s stock.

TENB stock traded up $0.15 during trading on Friday, reaching $26.81. 8,454 shares of the stock were exchanged, compared to its average volume of 638,367. Tenable has a twelve month low of $20.00 and a twelve month high of $36.26. The company has a market capitalization of $2.53 billion, a P/E ratio of -19.75 and a beta of 2.72. The stock has a 50 day simple moving average of $23.27 and a 200-day simple moving average of $25.97. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.05.

Tenable (NASDAQ:TENB) last released its earnings results on Tuesday, October 29th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.17. The business had revenue of $91.90 million for the quarter, compared to the consensus estimate of $88.79 million. Tenable had a negative return on equity of 64.40% and a negative net margin of 24.14%. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period last year, the business earned ($0.14) earnings per share. Equities analysts predict that Tenable will post -0.87 EPS for the current year.

TENB has been the topic of several research analyst reports. Stifel Nicolaus set a $38.00 price target on Tenable and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank set a $38.00 target price on Tenable and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised Tenable from a “neutral” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Wednesday, October 30th. SunTrust Banks started coverage on Tenable in a research report on Wednesday, October 2nd. They set a “hold” rating and a $25.00 target price on the stock. Finally, Nomura set a $29.00 target price on Tenable and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.91.

About Tenable

Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.

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