Short Interest in WalkMe Ltd. (NASDAQ:WKME) Expands By 222.2%

WalkMe Ltd. (NASDAQ:WKME) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 497,400 shares, a growth of 222.2% from the July 31st total of 154,400 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 945,700 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of WalkMe in a research note on Thursday, June 6th. BMO Capital Markets decreased their target price on shares of WalkMe from $11.50 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Barclays dropped their price target on WalkMe from $8.50 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, May 23rd. Wells Fargo & Company lowered their target price on WalkMe from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Citigroup lowered their price objective on shares of WalkMe from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.86.

WalkMe Stock Performance

Shares of NASDAQ WKME traded up $0.01 during midday trading on Tuesday, reaching $13.84. The stock had a trading volume of 142,340 shares, compared to its average volume of 429,104. WalkMe has a 12-month low of $7.60 and a 12-month high of $14.09. The stock has a 50-day moving average of $13.87 and a 200-day moving average of $10.83. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -31.48 and a beta of 0.15.

WalkMe (NASDAQ:WKME) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. WalkMe had a negative return on equity of 9.60% and a negative net margin of 16.55%. The business had revenue of $69.51 million for the quarter, compared to analysts’ expectations of $69.61 million. The firm’s quarterly revenue was up 5.1% on a year-over-year basis.

Institutional Trading of WalkMe

A number of institutional investors and hedge funds have recently bought and sold shares of WKME. Trexquant Investment LP bought a new position in shares of WalkMe during the 4th quarter valued at about $135,000. California State Teachers Retirement System grew its holdings in WalkMe by 9.1% during the 1st quarter. California State Teachers Retirement System now owns 26,070 shares of the company’s stock valued at $224,000 after buying an additional 2,166 shares in the last quarter. Pentwater Capital Management LP bought a new stake in WalkMe in the 2nd quarter worth approximately $251,000. Tidal Investments LLC purchased a new stake in shares of WalkMe during the 1st quarter worth approximately $289,000. Finally, Quadrature Capital Ltd boosted its position in shares of WalkMe by 14.8% during the 1st quarter. Quadrature Capital Ltd now owns 68,703 shares of the company’s stock valued at $589,000 after acquiring an additional 8,841 shares during the last quarter. 70.91% of the stock is currently owned by institutional investors.

About WalkMe

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's AI-driven digital adoption platform helps companies to effectively navigate change brought by technology, which stack, identifies, and delivers the personalized guidance and automation.