Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Up 25.6% in March

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 319,218 shares, a growth of 25.6% from the February 26th total of 254,240 shares. Based on an average daily volume of 82,582 shares, the short-interest ratio is currently 3.9 days. Currently, 7.4% of the company’s shares are sold short.

Climb Global Solutions Trading Up 1.1%

Shares of NASDAQ CLMB traded up $0.21 during mid-day trading on Monday, reaching $19.80. 7,158 shares of the company’s stock were exchanged, compared to its average volume of 301,538. Climb Global Solutions has a twelve month low of $18.91 and a twelve month high of $36.26. The firm has a market capitalization of $364.68 million, a price-to-earnings ratio of 17.03, a PEG ratio of 1.23 and a beta of 1.18. The business has a fifty day simple moving average of $25.65 and a 200 day simple moving average of $28.23.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. The business had revenue of $193.85 million during the quarter, compared to analyst estimates of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. Equities research analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Insider Activity at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the completion of the sale, the chief executive officer owned 294,760 shares in the company, valued at approximately $5,932,045. This represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new stake in Climb Global Solutions in the 3rd quarter valued at $27,000. Global Retirement Partners LLC acquired a new stake in shares of Climb Global Solutions in the 4th quarter valued at about $36,000. Bard Associates Inc. acquired a new stake in shares of Climb Global Solutions in the 4th quarter valued at about $55,000. Tower Research Capital LLC TRC lifted its holdings in shares of Climb Global Solutions by 317.3% in the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock valued at $59,000 after purchasing an additional 422 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Climb Global Solutions by 18.2% in the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after purchasing an additional 99 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLMB has been the subject of several analyst reports. Wall Street Zen lowered Climb Global Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a research report on Monday, March 23rd. Northland Securities began coverage on shares of Climb Global Solutions in a research note on Monday, March 23rd. They set an “outperform” rating and a $32.00 price objective on the stock. Weiss Ratings downgraded shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Zacks Research upgraded shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.