NCI Inc (NCIT) Sees Significant Increase in Short Interest
NCI Inc (NASDAQ:NCIT) saw a large increase in short interest during the month of April. As of April 28th, there was short interest totalling 34,820 shares, an increase of 51.4% from the April 13th total of 22,993 shares. Based on an average daily volume of 21,194 shares, the short-interest ratio is presently 1.6 days.
A number of hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC boosted its stake in NCI by 10.8% in the first quarter. Algert Global LLC now owns 12,155 shares of the information technology services provider’s stock worth $183,000 after buying an additional 1,180 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of NCI by 44.1% in the fourth quarter. Teachers Advisors LLC now owns 13,212 shares of the information technology services provider’s stock worth $184,000 after buying an additional 4,044 shares during the last quarter. Hancock Holding Co. acquired a new position in shares of NCI during the first quarter worth approximately $189,000. Russell Investments Group Ltd. acquired a new position in shares of NCI during the fourth quarter worth approximately $216,000. Finally, ClariVest Asset Management LLC boosted its position in shares of NCI by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 14,464 shares of the information technology services provider’s stock worth $217,000 after buying an additional 727 shares during the last quarter. 34.36% of the stock is currently owned by institutional investors.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of NCI from a “hold” rating to a “sell” rating in a research report on Saturday, April 8th. FBR & Co reissued a “hold” rating and set a $11.00 target price on shares of NCI in a research report on Tuesday, April 4th. Noble Financial reissued a “buy” rating on shares of NCI in a research report on Friday, May 12th. Finally, Cowen and Company reissued a “buy” rating and set a $16.50 target price on shares of NCI in a research report on Monday, April 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. NCI has an average rating of “Buy” and a consensus price target of $13.75.
NCI (NASDAQ:NCIT) traded down 0.27% during mid-day trading on Friday, hitting $18.45. 39,627 shares of the stock traded hands. The company has a 50 day moving average of $14.73 and a 200-day moving average of $13.93. NCI has a 12-month low of $10.98 and a 12-month high of $19.60. The stock has a market cap of $250.02 million, a PE ratio of 41.28 and a beta of 1.02.
NCI (NASDAQ:NCIT) last released its quarterly earnings data on Tuesday, May 9th. The information technology services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. NCI had a net margin of 4.06% and a return on equity of 12.10%. The company had revenue of $78.75 million for the quarter, compared to analysts’ expectations of $76.55 million. Equities research analysts forecast that NCI will post $1.01 earnings per share for the current year.
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NCI Company Profile
NCI, Inc is a provider of enterprise services and solutions to defense, intelligence, healthcare and civilian government agencies. The Company provides information technology (IT), and professional services and solutions by leveraging its core service offerings, which include cloud computing and IT infrastructure optimization; cybersecurity and information assurance; engineering and logistics support; enterprise information management and advanced analytics; health IT and medical support; IT service management; modeling, simulation, and training, and agile development and integration.
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