Short Interest in Wipro Limited Grows By 20.6% (WIT)
Wipro Limited (NYSE:WIT) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 12,998,984 shares, a growth of 20.6% from the April 15th total of 10,778,030 shares, ARN reports. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 859,581 shares, the days-to-cover ratio is presently 15.1 days.
WIT has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Wipro Limited from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 23rd. They now have a $14.50 price target on the stock. Analysts at Societe Generale upgraded shares of Wipro Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Wipro Limited has an average rating of “Buy” and a consensus target price of $13.25.
Wipro Limited (NYSE:WIT) opened at 11.33 on Thursday. Wipro Limited has a one year low of $6.91 and a one year high of $14.26. The stock has a 50-day moving average of $12. and a 200-day moving average of $12.53. The company has a market cap of $27.755 billion and a P/E ratio of 21.06.
Wipro Limited (NYSE:WIT) last released its earnings data on Thursday, April 17th. The company reported $9.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $8.91. The company had revenue of $116.54 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the company posted $7.02 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts expect that Wipro Limited will post $0.57 EPS for the current fiscal year.
Wipro Limited is a global information technology (NYSE:WIT) services company.
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