Short Interest in Climb Global Solutions, Inc. (NASDAQ:CLMB) Rises By 25.6%

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 319,218 shares, an increase of 25.6% from the February 26th total of 254,240 shares. Based on an average daily volume of 82,582 shares, the short-interest ratio is currently 3.9 days. Currently, 7.4% of the company’s shares are short sold.

Climb Global Solutions Trading Up 1.1%

CLMB traded up $0.22 during mid-day trading on Tuesday, hitting $19.61. 72,238 shares of the stock were exchanged, compared to its average volume of 300,645. The firm’s fifty day moving average is $25.40 and its two-hundred day moving average is $28.14. Climb Global Solutions has a 1-year low of $18.91 and a 1-year high of $36.26. The company has a market cap of $361.22 million, a PE ratio of 16.89, a PEG ratio of 1.23 and a beta of 1.18.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, February 25th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.06. The company had revenue of $193.85 million during the quarter, compared to the consensus estimate of $167.75 million. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%. As a group, research analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CLMB shares. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a research report on Monday, March 23rd. Barrington Research reduced their price target on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Wall Street Zen cut shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Insider Activity at Climb Global Solutions

In other news, CEO Dale Richard Foster sold 34,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $20.13, for a total transaction of $684,250.00. Following the completion of the transaction, the chief executive officer directly owned 294,760 shares in the company, valued at approximately $5,932,045. This represents a 10.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Climb Global Solutions

Large investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC grew its position in shares of Climb Global Solutions by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,739 shares of the company’s stock worth $282,000 after buying an additional 95 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Climb Global Solutions by 18.2% during the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after buying an additional 99 shares during the period. Tidal Investments LLC raised its holdings in Climb Global Solutions by 4.7% in the second quarter. Tidal Investments LLC now owns 2,415 shares of the company’s stock valued at $258,000 after acquiring an additional 108 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Climb Global Solutions by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 12,683 shares of the company’s stock worth $1,356,000 after acquiring an additional 114 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Climb Global Solutions by 4.3% in the third quarter. Franklin Resources Inc. now owns 2,989 shares of the company’s stock worth $403,000 after acquiring an additional 122 shares during the last quarter. 49.72% of the stock is owned by hedge funds and other institutional investors.

Climb Global Solutions Company Profile

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.