Zix Co. (NASDAQ:ZIXI) Short Interest Up 16.4% in October

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Zix Co. (NASDAQ:ZIXI) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,480,000 shares, an increase of 16.4% from the September 30th total of 2,990,000 shares. Approximately 6.5% of the shares of the company are sold short. Based on an average trading volume of 632,600 shares, the days-to-cover ratio is currently 5.5 days.

A number of equities research analysts have recently issued reports on ZIXI shares. Zacks Investment Research cut shares of ZIX from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. ValuEngine raised shares of ZIX from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Cowen set a $9.00 target price on shares of ZIX and gave the company a “buy” rating in a research report on Friday, November 1st. BidaskClub raised shares of ZIX from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet cut shares of ZIX from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.15.

ZIXI opened at $7.14 on Friday. ZIX has a twelve month low of $5.25 and a twelve month high of $11.15. The company has a 50-day simple moving average of $6.84 and a 200 day simple moving average of $8.29. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 4.17. The stock has a market capitalization of $395.77 million, a price-to-earnings ratio of 22.31 and a beta of 0.89.

ZIX (NASDAQ:ZIXI) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.04. ZIX had a negative net margin of 1.64% and a positive return on equity of 41.08%. The business had revenue of $47.80 million during the quarter, compared to analysts’ expectations of $47.17 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. ZIX’s revenue was up 167.0% compared to the same quarter last year. Sell-side analysts anticipate that ZIX will post 0.34 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in ZIX during the third quarter worth about $32,000. NEXT Financial Group Inc bought a new stake in ZIX during the second quarter worth about $42,000. Manchester Capital Management LLC bought a new stake in ZIX during the second quarter worth about $44,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in ZIX during the second quarter worth about $91,000. Finally, First Quadrant L P CA bought a new stake in ZIX during the second quarter worth about $93,000. 75.04% of the stock is owned by institutional investors and hedge funds.

ZIX Company Profile

Zix Corporation provides email encryption, data loss prevention (DLP), threat protection, archiving, and bring-your-own-device mobile security solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers ZixEncrypt that bundles email encryption and DLP capabilities to enable the secure exchange of email; ZixProtect, a cloud-based service that defends organizations from zero-day malware, ransomware, phishing, CEO fraud, W-2 phishing attacks, spam, and viruses in email; and ZixArchive, a cloud-based email retention solution that enables user retrieval, compliance, and e-discovery.

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