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Shares of Actuate (NASDAQ:BIRT) were the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,309,107 shares, an increase of 34.7% from the April 30th total of 972,199 shares, Stock Ratings Network reports. Currently, 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,648,325 shares, the days-to-cover ratio is currently 0.8 days.

Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of Actuate from a “hold” rating to a “sell” rating in a research note on Wednesday, May 7th. Separately, analysts at B. Riley downgraded shares of Actuate from a “buy” rating to a “neutral” rating in a research note on Friday, May 2nd. They now have a $4.50 price target on the stock. Finally, analysts at First Analysis downgraded shares of Actuate from an “overweight” rating to an “equal weight” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $7.20.

Actuate (NASDAQ:BIRT) opened at 4.40 on Thursday. Actuate has a one year low of $3.41 and a one year high of $8.23. The stock has a 50-day moving average of $4.70 and a 200-day moving average of $6.28. The company has a market cap of $202.6 million and a P/E ratio of 892.00.

Actuate (NASDAQ:BIRT) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.01) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.07. The company had revenue of $24.10 million for the quarter, compared to the consensus estimate of $30.10 million. During the same quarter last year, the company posted $0.08 earnings per share. Actuate’s revenue was down 30.9% compared to the same quarter last year. On average, analysts predict that Actuate will post $0.05 earnings per share for the current fiscal year.

Actuate Corporation (NASDAQ:BIRT) provides software and services to develop and deploy custom Business Intelligence and information applications.

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