Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Up 274.7% in March

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 1,196,230 shares, an increase of 274.7% from the March 15th total of 319,218 shares. Based on an average trading volume of 305,107 shares, the short-interest ratio is currently 3.9 days. Approximately 6.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

CLMB has been the topic of several recent analyst reports. Barrington Research decreased their price target on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Northland Securities initiated coverage on Climb Global Solutions in a research note on Monday, March 23rd. They issued an “outperform” rating and a $32.00 price target on the stock. Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Wall Street Zen raised Climb Global Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Insider Buying and Selling at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the sale, the chief executive officer owned 294,760 shares of the company’s stock, valued at $5,932,045. The trade was a 10.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Climb Global Solutions in the third quarter worth $27,000. Global Retirement Partners LLC acquired a new position in shares of Climb Global Solutions during the fourth quarter worth approximately $36,000. Bard Associates Inc. acquired a new position in shares of Climb Global Solutions during the fourth quarter worth approximately $55,000. Tower Research Capital LLC TRC lifted its position in shares of Climb Global Solutions by 317.3% during the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after purchasing an additional 422 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Climb Global Solutions by 18.2% during the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Stock Down 0.6%

NASDAQ:CLMB traded down $0.13 on Friday, reaching $21.36. The stock had a trading volume of 121,469 shares, compared to its average volume of 240,744. The company has a market capitalization of $393.45 million, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. Climb Global Solutions has a 1-year low of $18.91 and a 1-year high of $36.26. The stock has a fifty day moving average price of $23.75 and a 200-day moving average price of $27.43.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. The firm had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. Climb Global Solutions had a net margin of 3.27% and a return on equity of 21.86%. Sell-side analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

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.