Short interest in Computer Task Group, Incorporated (NASDAQ:CTG … – Best Stocks
The number of short positions held in Computer Task Group, Incorporated (NASDAQ: CTG) significantly declined during December. As of December 15th, there was a total short interest of 11,700 shares, representing a decrease of 23.5% from the 15,300 shares that had been shorted as of November 30th. At the moment, just 0.1% of the company’s shares are being sold short on the market. Based on an average daily trading volume of 24,100 shares, the short-interest ratio is 0.5 days. This number was arrived at by applying the calculations to the data.
The most recent earnings report for Computer Task Group, traded under the ticker symbol NASDAQ: CTG was released to the public on Tuesday, November 8th. The provider of information technology services reported earnings per share (EPS) of $0.11 for the quarter, which was $0.05 lower than the average forecast of $0.12 and $0.05 lower than the average forecast of $0.12.Computer Task Group did quite well, evidenced by their respectable 3.92% net margin and 10.57% return on equity. However, the corporation only brought in $75 million in revenue for the quarter, even though analysts predicted it would bring in $78.22 million in revenue for the period. Market analysts’ projections suggest that Computer Task Group will generate profits of $0.53 per share in total during the current fiscal year.
On November 27th, StockNews.com debuted its coverage of the Computer Task Group by publishing a research note. This day also marked the first day of coverage. They recommended purchasing shares of the company as a whole.
On Friday, the NASDAQ CTG market opened at $7.56. Trading began. The company is currently trading with a price-to-earnings ratio of 8.13, a beta value of 0.78, and a price-to-earnings-growth ratio of 0.70. The current value of its market capitalization is calculated to be $118.77 million. Over the past year, the price of Computer Task Group has fluctuated between a low of $6.42 and a high of $10.38 at various points. The moving averages for the previous 50 days at the company are $7.40, and the moving averages for the previous 200 days are $7.69.
Hedge funds have been adjusting late to the distribution of stock holdings in their portfolios. The newly created position in the Computer Task Group at Ritholtz Wealth Management was filled during the second quarter. The position was valued at approximately $100,000. During the second quarter of the fiscal year, Bailard Inc. invested $146,000 in acquiring a new holding in Computer Task Group. Kovack Advisors Inc. increased the amount of Computer Task Group stock owned by 213.2 percent during the third quarter. Kovack Advisors Inc. now has a total of 25,800 shares of the information technology services provider’s stock, valued at $173,000 after the company made an additional purchase of 48,600 shares during the most recent quarter. In the second quarter, O’Shaughnessy Asset Management LLC made a 69.6% increase in the amount of Computer Task Group stock it owned, bringing its total percentage of CTG stock to 100%. Following the acquisition of 12,820 shares during the preceding quarter, O’Shaughnessy Asset Management LLC now holds 31,232 shares of the information technology services provider’s stock. The current market value of these shares is $267,000. As a result, the total number of shares that the company possesses now amounts to 31,232.
Last but not least, State Street Corporation increased its holdings in Computer Task Group by 2.8% during the first quarter. This certainly should not be considered the least important development. After making an additional purchase of 1,586 shares during the most recent fiscal quarter, State Street Corporation now has 58,271 shares of the information technology services provider, which are currently valued at $569,000. This brings the total value of State Street Corporation’s holdings to $569,000. Institutional investors hold the company’s shares to 50.65% of the total.
Customers in India, Western Europe, South America, and North America are among those who benefit from the information and technology services offered by Computer Task Group Inc. and its subsidiaries. Its three primary business pillars are non-strategic technology services, information technology solutions and services in North America, and information technology solutions and services in Europe.
Yasmine’s focus is on uncovering early-stage ideas with the potential to have a lasting impact. Her educational background includes a bachelor’s degree in finance, an MBA, and two tests completed – the CFA and CMT.
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