Nuance Communications Short Interest Down 8.1% in May (NUAN)
Nuance Communications (NASDAQ:NUAN) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 29,669,029 shares, a decrease of 8.1% from the April 30th total of 32,270,858 shares, StockRatingsNetwork reports. Approximately 9.6% of the shares of the stock are sold short. Based on an average daily volume of 4,209,839 shares, the days-to-cover ratio is currently 7.0 days.
In other Nuance Communications news, Director Katherine A. Martin unloaded 15,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $15.85, for a total transaction of $237,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on NUAN. Analysts at Goldman Sachs cut their price target on shares of Nuance Communications from $15.00 to $14.00 in a research note on Thursday, May 22nd. Separately, analysts at Standpoint Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, analysts at Wedbush raised their price target on shares of Nuance Communications from $15.00 to $16.00 in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $17.63.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 16.29 on Tuesday. Nuance Communications has a 52-week low of $13.00 and a 52-week high of $20.01. The stock’s 50-day moving average is $15.91 and its 200-day moving average is $15.52. The company’s market cap is $5.168 billion.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.05. The company had revenue of $475.70 million for the quarter, compared to the consensus estimate of $484.17 million. During the same quarter last year, the company posted $0.34 earnings per share. Nuance Communications’s revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Nuance Communications will post $1.14 earnings per share for the current fiscal year.
Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.