Tintri, Inc. (TNTR) Short Interest Update
Tintri, Inc. (NASDAQ:TNTR) saw a significant increase in short interest during the month of September. As of September 29th, there was short interest totalling 1,161,693 shares, an increase of 92.3% from the September 15th total of 604,161 shares. Based on an average trading volume of 812,901 shares, the days-to-cover ratio is presently 1.4 days. Approximately 12.8% of the shares of the company are sold short.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new position in shares of Tintri during the 2nd quarter valued at about $146,000. Goldman Sachs Group Inc. purchased a new position in shares of Tintri during the 2nd quarter valued at about $619,000. UBS Oconnor LLC purchased a new position in shares of Tintri during the 2nd quarter valued at about $1,454,000. Federated Investors Inc. PA purchased a new position in shares of Tintri during the 2nd quarter valued at about $2,181,000. Finally, Laurion Capital Management LP purchased a new position in shares of Tintri during the 2nd quarter valued at about $2,181,000. Institutional investors and hedge funds own 50.56% of the company’s stock.
A number of research firms recently commented on TNTR. Bank of America Corporation cut Tintri from a “buy” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research report on Friday, September 8th. Morgan Stanley reiterated an “equal weight” rating and set a $4.50 price objective (down previously from $6.00) on shares of Tintri in a research report on Friday, September 8th. Needham & Company LLC reduced their price objective on Tintri from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, September 8th. Piper Jaffray Companies reiterated a “neutral” rating and set a $6.50 price objective (down previously from $8.50) on shares of Tintri in a research report on Friday, September 8th. Finally, William Blair cut Tintri from an “outperform” rating to a “market perform” rating in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Tintri currently has a consensus rating of “Hold” and a consensus target price of $8.67.
Shares of Tintri (TNTR) opened at 3.01 on Friday. The stock’s market cap is $94.29 million. The firm has a 50-day moving average price of $3.85 and a 200-day moving average price of $4.74. Tintri has a 12 month low of $2.85 and a 12 month high of $7.75.
Tintri (NASDAQ:TNTR) last issued its quarterly earnings results on Thursday, September 7th. The company reported ($2.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.97) by ($0.08). The business had revenue of $34.87 million during the quarter, compared to the consensus estimate of $35.68 million. The firm’s revenue was up 26.5% on a year-over-year basis. Equities analysts forecast that Tintri will post ($3.48) EPS for the current year.
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Tintri Company Profile
Tintri, Inc is a United States-based company. The Company is engaged in the business of storage management solutions. The Company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The Company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps.
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