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NetGear (NASDAQ:NTGR) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 2,497,543 shares, a drop of 20.2% from the April 15th total of 3,130,143 shares, Stock Ratings Network reports. Currently, 7.0% of the company’s shares are short sold. Based on an average trading volume of 435,273 shares, the days-to-cover ratio is presently 5.7 days.

A number of analysts have recently weighed in on NTGR shares. Analysts at Zacks downgraded shares of NetGear from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $31.90 price target on the stock. Separately, analysts at BWS Financial raised their price target on shares of NetGear from $35.00 to $42.00 in a research note on Friday, April 25th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.88.

Shares of NetGear (NASDAQ:NTGR) opened at 32.94 on Wednesday. NetGear has a 1-year low of $28.13 and a 1-year high of $36.27. The stock has a 50-day moving average of $33.00 and a 200-day moving average of $32.73. The company has a market cap of $1.203 billion and a price-to-earnings ratio of 23.66.

NetGear (NASDAQ:NTGR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.05. The company had revenue of $349.40 million for the quarter, compared to the consensus estimate of $344.12 million. During the same quarter last year, the company posted $0.50 earnings per share. NetGear’s revenue was up 19.1% compared to the same quarter last year. Analysts expect that NetGear will post $2.43 EPS for the current fiscal year.

NETGEAR, Inc is a global networking company that delivers products to consumers, businesses and service providers.

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