Tufin Software Technologies Ltd. (NYSE:TUFN) Sees Significant Drop in Short Interest

Tufin Software Technologies Ltd. (NYSE:TUFNGet Rating) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 212,400 shares, a decline of 24.5% from the May 15th total of 281,500 shares. Based on an average daily trading volume, of 787,600 shares, the short-interest ratio is presently 0.3 days. Approximately 0.7% of the company’s shares are sold short.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ETF Managers Group LLC grew its stake in shares of Tufin Software Technologies by 79.5% in the 4th quarter. ETF Managers Group LLC now owns 2,756,491 shares of the company’s stock valued at $28,860,000 after buying an additional 1,220,642 shares in the last quarter. EVR Research LP grew its stake in shares of Tufin Software Technologies by 89.6% in the 1st quarter. EVR Research LP now owns 2,161,000 shares of the company’s stock valued at $19,298,000 after buying an additional 1,021,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Tufin Software Technologies by 0.4% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,903,178 shares of the company’s stock valued at $16,995,000 after buying an additional 8,085 shares in the last quarter. Edenbrook Capital LLC grew its stake in shares of Tufin Software Technologies by 140.6% in the 1st quarter. Edenbrook Capital LLC now owns 1,839,204 shares of the company’s stock valued at $16,424,000 after buying an additional 1,074,845 shares in the last quarter. Finally, B. Riley Asset Management LLC grew its stake in shares of Tufin Software Technologies by 25.3% in the 1st quarter. B. Riley Asset Management LLC now owns 1,398,535 shares of the company’s stock valued at $12,489,000 after buying an additional 282,147 shares in the last quarter. 57.61% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. Colliers Securities downgraded Tufin Software Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, April 6th. Stifel Nicolaus cut their price objective on Tufin Software Technologies from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Monday, March 21st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.80.

NYSE:TUFN traded up $0.54 on Friday, hitting $12.04. 4,538,677 shares of the company’s stock traded hands, compared to its average volume of 663,266. Tufin Software Technologies has a 1 year low of $7.59 and a 1 year high of $13.50. The firm has a 50-day moving average price of $12.63 and a 200-day moving average price of $10.31. The company has a market cap of $442.71 million, a PE ratio of -11.05 and a beta of 1.01.

Tufin Software Technologies (NYSE:TUFNGet Rating) last released its earnings results on Thursday, May 12th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.03. Tufin Software Technologies had a negative return on equity of 74.27% and a negative net margin of 35.32%. The company had revenue of $26.10 million for the quarter, compared to analysts’ expectations of $28.03 million. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. Analysts predict that Tufin Software Technologies will post -1.18 earnings per share for the current fiscal year.

Tufin Software Technologies Company Profile (Get Rating)

Tufin Software Technologies Ltd., together with its subsidiaries, develops, markets, and sells software-based solutions primarily in the United States, Israel, Europe, the Middle East, and Africa, Germany, the Asia Pacific, and internationally. The company provides SecureTrack, which enables security administrators to define and manage a centralized security policy, minimize the attack surface, and ensure continuous compliance across the network; SecureChange that is used to assess, provision, and verify security configuration changes across physical networks and cloud platforms, while maintaining security and compliance; and SecureApp, which is used to define, manage, and monitor network connectivity for their applications.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Tufin Software Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tufin Software Technologies and related companies with MarketBeat.com's FREE daily email newsletter.