Wipro Limited (NYSE:WIT) Short Interest Up 133.5% in June
Wipro Limited (NYSE:WIT) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 35,685,129 shares, a growth of 133.5% from the June 15th total of 15,284,451 shares. Based on an average trading volume of 1,631,640 shares, the days-to-cover ratio is presently 21.9 days.
WIT has been the topic of a number of research reports. Zacks Investment Research lowered shares of Wipro Limited from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Jefferies Group LLC lowered shares of Wipro Limited from a “hold” rating to an “underperform” rating in a research report on Tuesday, June 6th. Finally, BidaskClub raised shares of Wipro Limited from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $4.25.
Shares of Wipro Limited (NYSE WIT) opened at 5.43 on Monday. The company has a market cap of $26.25 billion, a price-to-earnings ratio of 20.19 and a beta of 0.83. The firm has a 50-day moving average of $5.20 and a 200 day moving average of $4.96. Wipro Limited has a one year low of $4.50 and a one year high of $6.07.
Wipro Limited (NYSE:WIT) last issued its quarterly earnings results on Tuesday, April 25th. The information technology services provider reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Wipro Limited had a return on equity of 16.91% and a net margin of 15.42%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Equities research analysts anticipate that Wipro Limited will post $0.26 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in Wipro Limited during the first quarter worth about $109,000. Signaturefd LLC acquired a new position in Wipro Limited during the first quarter worth about $115,000. Teza Capital Management LLC acquired a new position in Wipro Limited during the first quarter worth about $122,000. Nationwide Fund Advisors acquired a new position in Wipro Limited during the first quarter worth about $136,000. Finally, Brandes Investment Partners LP acquired a new position in Wipro Limited during the first quarter worth about $138,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.
Wipro Limited Company Profile
Wipro Limited (Wipro) is a global information technology (IT) services provider. It operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design.
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