Short Interest in NetApp Grows By 36.1% (NTAP)
NetApp (NASDAQ:NTAP) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 7,973,104 shares, a growth of 36.1% from the July 15th total of 5,858,719 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 3,428,833 shares, the short-interest ratio is currently 2.3 days. Currently, 2.5% of the shares of the stock are short sold.
In other NetApp news, Director Daniel J. Warmenhoven sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $38.44, for a total value of $768,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on NTAP shares. Analysts at RBC Capital raised their price target on shares of NetApp from $38.00 to $41.00 in a research note on Friday. Separately, analysts at Evercore Partners raised their price target on shares of NetApp from $4.00 to $43.00 in a research note on Friday. Finally, analysts at Pacific Crest raised their price target on shares of NetApp from $41.00 to $46.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.11.
Shares of NetApp (NASDAQ:NTAP) traded up 0.82% during mid-day trading on Monday, hitting $39.32. The stock had a trading volume of 3,045,763 shares. NetApp has a 52 week low of $33.34 and a 52 week high of $45.96. The stock’s 50-day moving average is $37.31 and its 200-day moving average is $37.74. The company has a market cap of $12.720 billion and a price-to-earnings ratio of 21.31.
NetApp (NASDAQ:NTAP) last released its earnings data on Wednesday, May 21st. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.79 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company posted $0.69 earnings per share. NetApp’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that NetApp will post $2.96 earnings per share for the current fiscal year.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.