Octave Intelligence plc (NASDAQ:OCTV) Sees Large Increase in Short Interest

Octave Intelligence plc (NASDAQ:OCTV) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 5,301,084 shares, an increase of 93.5% from the September 15th total of 2,739,613 shares. Based on an average daily trading volume, of 3,636,593 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On Octave Intelligence

Several hedge funds and other institutional investors have recently modified their holdings of OCTV. Ancora Advisors LLC acquired a new stake in shares of Octave Intelligence during the 2nd quarter valued at approximately $882,000. O Keefe Stevens Advisory Inc. acquired a new position in Octave Intelligence during the 3rd quarter valued at approximately $13,173,000. State of Alaska Department of Revenue acquired a new position in Octave Intelligence during the 3rd quarter valued at approximately $240,000. Finally, Squarepoint Ops LLC bought a new position in Octave Intelligence during the 2nd quarter worth $190,000.

Octave Intelligence Stock Performance

OCTV traded up $0.85 on Thursday, reaching $20.68. The company’s stock had a trading volume of 1,492,373 shares, compared to its average volume of 1,962,241. Octave Intelligence has a 1 year low of $15.41 and a 1 year high of $30.00. The firm has a 50 day moving average of $19.10.

Analysts Set New Price Targets

A number of research firms have weighed in on OCTV. Morgan Stanley assumed coverage on Octave Intelligence in a report on Thursday, September 17th. They issued an “equal weight” rating and a $21.00 price target for the company. Wall Street Zen raised shares of Octave Intelligence to a “hold” rating in a research report on Saturday, July 18th. Barclays began coverage on shares of Octave Intelligence in a research note on Thursday, June 18th. They set an “equal weight” rating and a $18.00 price objective on the stock. Finally, Weiss Ratings assumed coverage on shares of Octave Intelligence in a research note on Monday, August 17th. They set a “sell (d)” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Octave Intelligence presently has a consensus rating of “Hold” and a consensus price target of $21.71.

Octave Intelligence Company Profile

Octave Intelligence plc provides various software solutions. Its solutions helps organizations to better understand and manage the environments in which they design, build, operate, and protect their assets, people, and critical infrastructure. Its platform connects data, events, and workflows across various environments and applies context-aware intelligence to help customers understand what is happening, what may happen next, and how actions in one area affect conditions in another. The company serves power generation and utilities, data centers and IT infrastructure operators, heavy construction and public works, industrial process industries, public safety and emergency response agencies, transportation networks and logistics operations, light process industries, and discrete manufacturing industries.