Mimecast Ltd (NASDAQ:MIME) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 461,600 shares, an increase of 97.2% from the May 30th total of 234,100 shares. Based on an average trading volume of 520,100 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.9% of the shares of the company are short sold.

Several analysts recently issued reports on MIME shares. BidaskClub downgraded Utah Medical Products from a “hold” rating to a “sell” rating in a report on Monday. Imperial Capital reissued an “outperform” rating and issued a $55.00 price target (up previously from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. BMO Capital Markets set a $13.00 price target on Vale and gave the stock a “hold” rating in a report on Tuesday, May 14th. Wedbush set a $20.00 price target on Ares Capital and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, Cowen cut their price target on Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $54.31.

Mimecast stock traded down $1.95 during mid-day trading on Thursday, hitting $48.22. 451,326 shares of the company’s stock traded hands, compared to its average volume of 566,011. The company has a 50 day moving average price of $45.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $3.08 billion, a P/E ratio of -688.86, a PEG ratio of 56.82 and a beta of 1.13. Mimecast has a one year low of $29.67 and a one year high of $54.57.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $92.20 million for the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.72%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Sell-side analysts forecast that Mimecast will post 0.04 earnings per share for the current year.

In other news, CEO Peter Bauer sold 18,750 shares of Mimecast stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $47.56, for a total value of $891,750.00. Following the completion of the transaction, the chief executive officer now owns 35,096 shares in the company, valued at approximately $1,669,165.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Edward Vincent Jennings sold 11,000 shares of Mimecast stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $44.12, for a total value of $485,320.00. Following the completion of the transaction, the chief operating officer now owns 12,251 shares of the company’s stock, valued at approximately $540,514.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 477,746 shares of company stock valued at $22,161,736. Insiders own 29.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MIME. SQN Investors LP bought a new stake in Mimecast during the 1st quarter valued at $48,064,000. Whale Rock Capital Management LLC raised its stake in shares of Mimecast by 77.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,623,686 shares of the technology company’s stock worth $54,605,000 after buying an additional 708,198 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Mimecast in the 4th quarter worth $20,892,000. Polar Capital LLP raised its stake in shares of Mimecast by 52.1% in the 4th quarter. Polar Capital LLP now owns 946,401 shares of the technology company’s stock worth $31,827,000 after buying an additional 324,017 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Mimecast in the 4th quarter worth $8,826,000. 71.70% of the stock is currently owned by hedge funds and other institutional investors.

About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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