Short Interest in Converge Technology Solutions Corp. (OTCMKTS:CTSDF) Grows By 9.5%

Converge Technology Solutions Corp. (OTCMKTS:CTSDF – Get Rating) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,291,100 shares, a growth of 9.5% from the February 13th total of 1,179,300 shares. Based on an average trading volume of 34,800 shares, the short-interest ratio is currently 37.1 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Scotiabank dropped their price objective on Converge Technology Solutions from C$10.00 to C$8.00 in a research note on Monday, February 13th. Raymond James dropped their price objective on Converge Technology Solutions from C$8.50 to C$7.00 in a research note on Wednesday, February 15th. BMO Capital Markets dropped their price objective on Converge Technology Solutions from C$8.00 to C$7.50 in a research note on Wednesday, February 15th. Desjardins dropped their price objective on Converge Technology Solutions from C$8.00 to C$7.00 in a research note on Friday, March 10th. Finally, Berenberg Bank dropped their price objective on Converge Technology Solutions from C$14.00 to C$9.50 in a research note on Monday, December 5th.

Converge Technology Solutions Stock Performance

OTCMKTS CTSDF opened at $3.00 on Friday. The stock’s 50-day simple moving average is $3.77 and its two-hundred day simple moving average is $3.92. Converge Technology Solutions has a twelve month low of $2.70 and a twelve month high of $8.73.

About Converge Technology Solutions

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Converge Technology Solutions Corp. engages in the provision of hybrid Information Technology solutions. It offers combination of accelerators and foundational infrastructure solutions to deliver best-of-breed solutions and services to customers. The company was founded on November 29, 2016 and is headquartered in Quebec, Canada.