The amount of short interest in Everbridge, Inc. (NASDAQ: EVBG) fell substantially in November. There were 1,370,000 shares totaling short interest as of November 15, which is a 17.0% decrease from 1,650,000 shares as of October 31. Based on an average trading volume of 661,100 shares, the days-to-cover ratio is 2.1 days.
Institutional investors recently traded the company’s shares. Prospera Financial Services Inc. invested approximately $27,000 in a fresh Everbridge holding during the first quarter. During the first quarter, Amalgamated Bank boosted its ownership of Everbridge by 11.7%. Amalgamated Bank increased its holdings in the technology company by 946 shares in the most recent quarter, bringing its total to 9,047, with a market value of $395,000. B. Riley Asset Management LLC boosted its stake in Everbridge by 95.5% during the first quarter. B. Riley Asset Management LLC now owns 3,360,00 shares of the technology company’s stock after purchasing an additional 37,600 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in Everbridge by around $18,612,000 during the first quarter. Not to mention, Envestnet Asset Management Inc. grew its stake in Everbridge by 6.3% during the first quarter. Envestnet Asset Management Inc. now owns 39,372 technology company shares worth $1,718,000, after acquiring an additional 2,327 shares in the most recent quarter. Institutions and hedge funds combined own 96.47% of the stock.
In other Everbridge news, EVP Vernon Irvin sold 4,443 shares of the company’s stock on November 9. With an average price of $27.85, the stock’s total transaction value came to $123,737.55. The executive vice president currently holds 22,501 company shares valued at around $626,652.85. A copy of the legal document explaining the sale is accessible on the Securities and Exchange Commission website. Insiders sold 8,685 shares of company stock for a total of 256,865 dollars recently. Company insiders hold 0.44% of the shares.
EVBG traded down $0.54 on Thursday and ended at $32.86 on Friday. The company’s trading volume was 214,078 shares as opposed to its 618,984 share volume. The firm has a $1.31 billion market cap, a P/E ratio of -14.80, and a beta of 0.77. Everbridge’s highs and low for the past year have been $122.78 and $24.10, respectively. The stock’s fifty-day moving average price is $30.83, and its 200-day moving average price is $32.89, respectively. The company’s debt-to-equity, quick ratio, and current ratio are all 2.20.
Everbridge (NASDAQ: EVBG) published its most recent quarterly results report on Tuesday, November 8. The technology company’s ($0.13) EPS for the quarter was $0.12 more than the ($0.25) median expectation. Sales for the quarter came to $111.40 million, exceeding analysts’ $110.69 million estimate. Everbridge had a negative net margin of 21.04% and a negative return on equity of 8.37%. Everbridge will generate -0.69 earnings per share for the just-finished fiscal year, on average, stock market analysts anticipate.
EVBG has been the focus of numerous academic investigations. Stifel Nicolaus raised their Everbridge price objective from $32.00 to $38.00 and rated the stock as a “hold” in a research report released on Friday, August 26. In a report on November 16, StockNews.com modified its advice for Everbridge from “sell” to “hold.” In a report issued on November 9, Raymond James revised its “hold” recommendation for Everbridge and lowered its price objective from $38.00 to $32.00. In a report released Tuesday, August 30, Trust Financial raised its “hold” rating and price objective on Everbridge from $31.00 to $38.00. Canaccord Genuity Group reduced its price target on Everbridge from $55.00 to $40.00 in a research report released on November 9. Shares of the company have received buy recommendations from four research analysts, nine hold recommendations, and two sell recommendations. According to Bloomberg.com, the company now has a consensus price target of $62.92 and an average recommendation of “Hold.”
