Short Interest in Asure Software Inc (ASUR) Rises By 45.3%
Asure Software Inc (NASDAQ:ASUR) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,317,035 shares, a growth of 45.3% from the August 15th total of 906,158 shares. Currently, 13.8% of the company’s stock are short sold. Based on an average daily trading volume, of 114,545 shares, the short-interest ratio is currently 11.5 days.
ASUR has been the topic of several recent analyst reports. Zacks Investment Research raised Asure Software from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Canaccord Genuity reissued a “buy” rating and set a $17.00 price target on shares of Asure Software in a research report on Wednesday, May 24th. Northland Securities set a $18.00 price target on Asure Software and gave the company a “buy” rating in a research report on Tuesday, August 15th. Cowen and Company initiated coverage on Asure Software in a research report on Wednesday, September 6th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Scotiabank lowered Asure Software from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Asure Software presently has a consensus rating of “Buy” and an average target price of $15.88.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Navellier & Associates Inc raised its stake in shares of Asure Software by 13.1% in the 2nd quarter. Navellier & Associates Inc now owns 49,953 shares of the technology company’s stock valued at $730,000 after purchasing an additional 5,775 shares during the period. Wells Fargo & Company MN raised its stake in shares of Asure Software by 12.6% in the 2nd quarter. Wells Fargo & Company MN now owns 57,470 shares of the technology company’s stock valued at $840,000 after purchasing an additional 6,435 shares during the period. Northern Trust Corp raised its stake in shares of Asure Software by 37.8% in the 2nd quarter. Northern Trust Corp now owns 24,419 shares of the technology company’s stock valued at $357,000 after purchasing an additional 6,692 shares during the period. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Asure Software in the 2nd quarter valued at about $161,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Asure Software in the 1st quarter valued at about $122,000. 39.67% of the stock is currently owned by hedge funds and other institutional investors.
Asure Software (ASUR) opened at 11.01 on Tuesday. The firm has a 50-day moving average price of $11.74 and a 200-day moving average price of $12.39. Asure Software has a 52 week low of $6.07 and a 52 week high of $17.27. The stock’s market cap is $136.76 million.
Asure Software (NASDAQ:ASUR) last released its quarterly earnings results on Monday, August 14th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). Asure Software had a negative net margin of 14.26% and a negative return on equity of 17.67%. The firm had revenue of $12.88 million during the quarter, compared to analyst estimates of $12.23 million. On average, equities research analysts predict that Asure Software will post $0.52 EPS for the current year.
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About Asure Software
Asure Software, Inc is a global provider of cloud-based software-as-a-service (SaaS) solutions that help companies to bring people, time, space and assets together. The Company serves approximately 6,000 clients in over 80 countries. The Company offers a range of solutions to help its clients optimize and manage mobile workforces and global workspaces.
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