Climb Global Solutions (NASDAQ:CLMB) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Climb Global Solutions (NASDAQ:CLMB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also issued reports on CLMB. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Northland Securities began coverage on Climb Global Solutions in a research report on Monday, March 23rd. They set an “outperform” rating and a $32.00 target price on the stock. Weiss Ratings raised Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Barrington Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Climb Global Solutions in a research report on Tuesday, April 21st. Finally, Northcoast Research raised Climb Global Solutions to a “strong-buy” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Climb Global Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB opened at $18.89 on Friday. Climb Global Solutions has a 1 year low of $15.24 and a 1 year high of $36.26. The firm has a market cap of $348.90 million, a price-to-earnings ratio of 16.57, a PEG ratio of 1.19 and a beta of 1.01. The stock’s 50-day simple moving average is $21.49 and its 200-day simple moving average is $26.17.

Climb Global Solutions (NASDAQ:CLMB) last announced its earnings results on Wednesday, April 29th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Climb Global Solutions had a return on equity of 20.81% and a net margin of 3.01%.The business had revenue of $182.38 million for the quarter, compared to analysts’ expectations of $151.33 million. As a group, research analysts predict that Climb Global Solutions will post 1.33 EPS for the current year.

Insider Buying and Selling

In other Climb Global Solutions news, CEO Dale Richard Foster sold 34,000 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the completion of the transaction, the chief executive officer directly owned 294,760 shares in the company, valued at $5,932,045. The trade was a 10.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Climb Global Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in CLMB. State of Alaska Department of Revenue acquired a new position in shares of Climb Global Solutions during the third quarter worth approximately $27,000. Global Retirement Partners LLC acquired a new position in shares of Climb Global Solutions during the fourth quarter worth approximately $36,000. Bard Associates Inc. acquired a new position in shares of Climb Global Solutions during the fourth quarter worth approximately $55,000. Tower Research Capital LLC TRC boosted its position in shares of Climb Global Solutions by 317.3% during the second quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after buying an additional 422 shares during the period. Finally, Peterson Wealth Services boosted its position in shares of Climb Global Solutions by 3,267.0% during the first quarter. Peterson Wealth Services now owns 3,569 shares of the company’s stock worth $71,000 after buying an additional 3,463 shares during the period. 49.72% of the stock is currently owned by institutional investors and hedge funds.

About Climb Global Solutions

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.