GTY Technology Holdings Inc (NASDAQ:GTYH) Short Interest Down 32.1% in October

GTY Technology Holdings Inc (NASDAQ:GTYH) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,310,000 shares, a drop of 32.1% from the September 30th total of 1,930,000 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 123,200 shares, the days-to-cover ratio is presently 10.6 days.

GTY Technology stock traded up $0.10 during trading on Tuesday, reaching $5.41. The company had a trading volume of 59,900 shares, compared to its average volume of 145,951. GTY Technology has a 52 week low of $4.53 and a 52 week high of $12.24. The firm’s 50-day simple moving average is $5.49 and its 200 day simple moving average is $6.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.00 and a quick ratio of 1.00.

GTY Technology (NASDAQ:GTYH) last announced its earnings results on Friday, August 9th. The company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.13). The company had revenue of $8.25 million during the quarter.

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in GTY Technology by 56.9% during the third quarter. Rhumbline Advisers now owns 41,518 shares of the company’s stock valued at $260,000 after acquiring an additional 15,062 shares during the period. Macquarie Group Ltd. bought a new stake in GTY Technology during the second quarter valued at about $72,000. Susquehanna International Group LLP bought a new stake in GTY Technology during the second quarter valued at about $363,000. Morgan Stanley bought a new stake in GTY Technology during the second quarter valued at about $264,000. Finally, Vanguard Group Inc. bought a new stake in GTY Technology during the second quarter valued at about $4,128,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

GTYH has been the topic of a number of recent research reports. Citigroup initiated coverage on GTY Technology in a report on Friday, August 23rd. They issued a “neutral” rating and a $7.00 target price on the stock. ValuEngine raised GTY Technology from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

GTY Technology Company Profile

GTY Technology Holdings Inc provides cloud-based suite of solutions for state and local governments in North America. The company develops software technologies for the procurement and vendor or supplier sourcing industry in government, public sector, and various highly-regulated commercial vertical markets; content, digital, and integrated payment services via a software-as-a-service platform for government agencies and utility companies.

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