Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Down 14.3% in February

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 243,457 shares, a decrease of 14.3% from the January 29th total of 284,200 shares. Based on an average daily volume of 51,518 shares, the days-to-cover ratio is currently 4.7 days. Approximately 5.6% of the company’s stock are short sold. Approximately 5.6% of the company’s stock are short sold. Based on an average daily volume of 51,518 shares, the days-to-cover ratio is currently 4.7 days.

Institutional Trading of Climb Global Solutions

A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of Climb Global Solutions during the 3rd quarter worth about $27,000. Global Retirement Partners LLC bought a new stake 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 in the fourth quarter valued at approximately $55,000. Tower Research Capital LLC TRC increased its stake 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 during the period. Finally, IFP Advisors Inc lifted its holdings in Climb Global Solutions by 18.2% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Wall Street Zen lowered Climb Global Solutions from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Barrington Research reaffirmed an “outperform” rating and set a $136.00 price target on shares of Climb Global Solutions in a research report on Friday, February 20th. Finally, Zacks Research upgraded Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $136.00.

Climb Global Solutions Price Performance

NASDAQ CLMB traded up $1.90 during trading on Wednesday, reaching $91.24. 24,462 shares of the company’s stock were exchanged, compared to its average volume of 73,732. Climb Global Solutions has a fifty-two week low of $80.08 and a fifty-two week high of $145.02. The stock has a market capitalization of $420.62 million, a P/E ratio of 19.62, a PEG ratio of 1.34 and a beta of 1.18. The business has a 50 day moving average price of $113.39 and a 200-day moving average price of $118.21.

Shares of Climb Global Solutions are going to split before the market opens on Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly created shares will be distributed to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last posted its earnings results on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a return on equity of 22.56% and a net margin of 3.27%.The business had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. On average, analysts forecast that Climb Global Solutions will post 4.14 earnings per share for the current 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.