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

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 trading volume, of 82,582 shares, the days-to-cover ratio is presently 3.9 days. Currently, 7.4% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CLMB shares. Northland Securities assumed coverage on shares of Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 price objective on the stock. Barrington Research reduced their target price on shares of Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Wall Street Zen lowered shares of Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. 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. Finally, Northcoast Research upgraded shares of Climb Global Solutions to a “strong-buy” rating in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Climb Global Solutions Trading Up 1.1%

Shares of CLMB traded up $0.21 during midday trading on Monday, reaching $19.80. The stock had a trading volume of 7,158 shares, compared to its average volume of 301,538. The firm has a market cap of $364.68 million, a PE ratio of 17.03, a P/E/G ratio of 1.23 and a beta of 1.18. The firm has a 50 day simple moving average of $25.65 and a 200-day simple moving average of $28.23. Climb Global Solutions has a one year low of $18.91 and a one year high of $36.26.

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

Insider Buying and Selling

In other Climb Global Solutions news, CEO Dale Richard Foster sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $20.13, for a total value of $684,250.00. Following the sale, the chief executive officer owned 294,760 shares in the company, valued at approximately $5,932,045. The trade was a 10.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Institutional Trading of Climb Global Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC increased its position in Climb Global Solutions by 3.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,739 shares of the company’s stock worth $282,000 after buying an additional 95 shares during the period. IFP Advisors Inc boosted its position in shares of Climb Global Solutions by 18.2% in the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock valued at $90,000 after acquiring an additional 99 shares during the period. Tidal Investments LLC grew its stake in shares of 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. grew its stake in shares of Climb Global Solutions by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 12,683 shares of the company’s stock valued at $1,356,000 after acquiring an additional 114 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Climb Global Solutions by 4.3% during 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 period. Institutional investors own 49.72% of the company’s stock.

About Climb Global Solutions

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.