Datawatch Corporation (DWCH) Shares Down NaN on Disappointing Earnings
Datawatch Corporation (NASDAQ:DWCH) shares fell NaN on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $9.05 and last traded at $0.00. 781,001 shares traded hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Datawatch Corporation had a negative net margin of 11.01% and a negative return on equity of 6.84%. The company had revenue of $10.20 million during the quarter, compared to analysts’ expectations of $9.49 million. Datawatch Corporation’s quarterly revenue was up 18.6% on a year-over-year basis.
DWCH has been the subject of several research analyst reports. Canaccord Genuity reaffirmed a “hold” rating and set a $10.00 target price on shares of Datawatch Corporation in a research report on Monday. Zacks Investment Research raised Datawatch Corporation from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Friday, July 21st.
In other news, CEO Michael Anthony Morrison sold 14,202 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $9.61, for a total transaction of $136,481.22. Following the completion of the transaction, the chief executive officer now owns 170,001 shares in the company, valued at approximately $1,633,709.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.69% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DWCH. Algert Global LLC bought a new position in Datawatch Corporation in the 2nd quarter worth about $103,000. KCG Holdings Inc. boosted its stake in Datawatch Corporation by 5.7% in the 1st quarter. KCG Holdings Inc. now owns 17,390 shares of the technology company’s stock worth $146,000 after purchasing an additional 939 shares during the period. Bank of New York Mellon Corp boosted its stake in Datawatch Corporation by 10.4% in the 1st quarter. Bank of New York Mellon Corp now owns 17,546 shares of the technology company’s stock worth $148,000 after purchasing an additional 1,649 shares during the period. Goldman Sachs Group Inc. boosted its stake in Datawatch Corporation by 25.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,276 shares of the technology company’s stock worth $179,000 after purchasing an additional 4,357 shares during the period. Finally, Northern Trust Corp boosted its stake in Datawatch Corporation by 4.9% in the 2nd quarter. Northern Trust Corp now owns 24,514 shares of the technology company’s stock worth $228,000 after purchasing an additional 1,148 shares during the period. Institutional investors and hedge funds own 40.79% of the company’s stock.
About Datawatch Corporation
Datawatch Corporation is engaged in the design, development, marketing, distribution and support of business computer software primarily for the self-service data preparation and visual data discovery markets. The Company also provides services, including implementation and support of its software products, as well as training on their use and administration.
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