Short Interest in Model N Inc (NYSE:MODN) Expands By 19.5%

Model N Inc (NYSE:MODN) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 628,900 shares, an increase of 19.5% from the May 30th total of 526,100 shares. Based on an average daily trading volume, of 183,600 shares, the short-interest ratio is currently 3.4 days. Currently, 2.8% of the company’s shares are short sold.

Several analysts have recently issued reports on MODN shares. Chardan Capital reiterated a “buy” rating and issued a $23.00 price objective on shares of Model N in a research note on Monday, May 20th. National Securities reiterated a “buy” rating on shares of Model N in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $22.00.

Model N stock traded down $0.03 during midday trading on Friday, reaching $20.42. The company’s stock had a trading volume of 136,131 shares, compared to its average volume of 233,823. Model N has a fifty-two week low of $12.60 and a fifty-two week high of $20.74. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.86. The stock has a market cap of $663.28 million, a P/E ratio of -27.97 and a beta of 0.58. The stock’s 50-day moving average is $19.18.

Model N (NYSE:MODN) last posted its quarterly earnings results on Tuesday, May 7th. The software maker reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.20. Model N had a negative return on equity of 56.80% and a negative net margin of 20.30%. The company had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $34.52 million. During the same period last year, the firm earned $0.02 earnings per share. Model N’s quarterly revenue was down 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Model N will post -0.45 earnings per share for the current year.

In other news, CEO Jason Blessing sold 12,022 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.89, for a total transaction of $227,095.58. Following the completion of the transaction, the chief executive officer now directly owns 362,184 shares in the company, valued at $6,841,655.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark Albert Anderson sold 4,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $18.59, for a total value of $74,360.00. Following the transaction, the senior vice president now owns 130,934 shares of the company’s stock, valued at $2,434,063.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,833 shares of company stock valued at $467,895. Company insiders own 1.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. PRW Wealth Management LLC acquired a new stake in Model N in the fourth quarter valued at $25,000. Great West Life Assurance Co. Can acquired a new stake in Model N in the fourth quarter valued at $59,000. BNP Paribas Arbitrage SA raised its stake in Model N by 7,886.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,431 shares of the software maker’s stock valued at $95,000 after buying an additional 5,363 shares in the last quarter. Formula Growth Ltd. acquired a new stake in Model N in the first quarter valued at $95,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Model N by 410.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,045 shares of the software maker’s stock valued at $106,000 after buying an additional 6,470 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Model N Company Profile

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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