Cbeyond Sees Large Increase in Short Interest (CBEY)
Shares of Cbeyond (NASDAQ:CBEY) were the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 678,648 shares, a growth of 35.6% from the April 15th total of 500,631 shares, Analyst RN reports. Currently, 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 2,460,194 shares, the days-to-cover ratio is presently 0.3 days.
CBEY has been the subject of a number of recent research reports. Analysts at Drexel Hamilton downgraded shares of Cbeyond from a “buy” rating to a “hold” rating in a research note on Saturday. They now have a $10.00 price target on the stock. Separately, analysts at DA Davidson downgraded shares of Cbeyond from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $10.00 price target on the stock, up previously from $8.00. Finally, analysts at Raymond James downgraded shares of Cbeyond from a “strong-buy” rating to an “underperform” rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.44.
Shares of Cbeyond (NASDAQ:CBEY) opened at 9.93 on Monday. Cbeyond has a 52-week low of $5.39 and a 52-week high of $9.96. The stock has a 50-day moving average of $8.6 and a 200-day moving average of $7.22. The company’s market cap is $307.6 million.
Cbeyond (NASDAQ:CBEY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). The company had revenue of $108.50 million for the quarter, compared to the consensus estimate of $109.20 million. On average, analysts predict that Cbeyond will post $-0.78 earnings per share for the current fiscal year.
Cbeyond, Inc provides integrated communications services. The Company offers an integrated package of local and long distance telephony services, T-1 Internet access and Internet-based applications to small and medium sized businesses.
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