Short Interest in Everbridge, Inc. (EVBG) Increases By 63.1%
Everbridge, Inc. (NASDAQ:EVBG) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,074,983 shares, an increase of 63.1% from the November 15th total of 658,922 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 433,928 shares, the days-to-cover ratio is presently 2.5 days.
Shares of Everbridge (NASDAQ EVBG) opened at $26.88 on Friday. Everbridge has a 1 year low of $16.63 and a 1 year high of $29.99.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. Everbridge had a negative net margin of 17.10% and a negative return on equity of 29.44%. The firm had revenue of $27.31 million for the quarter, compared to analysts’ expectations of $26.41 million. During the same period in the prior year, the company earned ($0.07) EPS. The business’s revenue was up 37.0% compared to the same quarter last year. equities research analysts forecast that Everbridge will post -0.55 earnings per share for the current year.
In other Everbridge news, SVP Elliot J. Mark sold 2,500 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $26.81, for a total value of $67,025.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jaime Wallace Ellertson sold 97,500 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $26.43, for a total transaction of $2,576,925.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,834 shares of company stock worth $3,721,575. Corporate insiders own 41.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Everbridge by 196.3% in the 2nd quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,885 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in Everbridge in the 2nd quarter worth about $166,000. Nationwide Fund Advisors raised its position in Everbridge by 210.1% in the 2nd quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock worth $234,000 after purchasing an additional 6,497 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Everbridge in the 2nd quarter worth about $288,000. Finally, US Bancorp DE purchased a new stake in Everbridge in the 2nd quarter worth about $292,000. 65.40% of the stock is currently owned by institutional investors.
Everbridge Company Profile
Everbridge, Inc is a global software company. The Company provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats, such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events, such as information technology (IT) outages, cyber-attacks or other incidents, such as product recalls or supply-chain interruptions, its Software as a Service (SaaS)-based platform enables its customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.
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