Tenable Holdings Inc (NASDAQ:TENB) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,180,000 shares, a decrease of 14.5% from the September 30th total of 2,550,000 shares. Based on an average trading volume of 656,900 shares, the short-interest ratio is currently 3.3 days. Currently, 5.6% of the shares of the stock are sold short.
A number of research firms recently commented on TENB. SunTrust Banks began coverage on Tenable in a research report on Wednesday, October 2nd. They set a “hold” rating and a $25.00 price target on the stock. Stifel Nicolaus set a $38.00 price objective on Tenable and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upgraded Tenable from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Wednesday, October 30th. Zacks Investment Research upgraded Tenable from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Saturday, November 2nd. Finally, Nomura set a $29.00 price objective on Tenable and gave the company a “hold” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $33.91.
In related news, Director John C. Huffard, Jr. sold 25,466 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $24.98, for a total transaction of $636,140.68. Also, Director John C. Huffard, Jr. sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $25.48, for a total value of $1,274,000.00. 31.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in shares of Tenable in the 2nd quarter valued at about $31,000. Tower Research Capital LLC TRC raised its stake in shares of Tenable by 333.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,668 shares of the company’s stock valued at $105,000 after purchasing an additional 3,592 shares during the period. Bank of Montreal Can raised its stake in shares of Tenable by 1,850.0% in the 2nd quarter. Bank of Montreal Can now owns 4,329 shares of the company’s stock valued at $124,000 after purchasing an additional 4,107 shares during the period. Diversified Trust Co acquired a new stake in shares of Tenable in the 3rd quarter valued at about $205,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Tenable in the 1st quarter valued at about $244,000. 53.39% of the stock is currently owned by hedge funds and other institutional investors.
TENB traded up $0.20 during mid-day trading on Friday, reaching $26.86. The stock had a trading volume of 291,900 shares, compared to its average volume of 634,699. The stock has a market capitalization of $2.56 billion, a P/E ratio of -19.75 and a beta of 2.72. Tenable has a 52 week low of $20.00 and a 52 week high of $36.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.52. The firm’s fifty day simple moving average is $23.34 and its two-hundred day simple moving average is $25.93.
Tenable (NASDAQ:TENB) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.17. Tenable had a negative return on equity of 64.40% and a negative net margin of 24.14%. The business had revenue of $91.90 million for the quarter, compared to the consensus estimate of $88.79 million. During the same quarter last year, the business posted ($0.14) EPS. The firm’s revenue was up 32.4% compared to the same quarter last year. As a group, analysts expect that Tenable will post -0.87 EPS for the current fiscal year.
Tenable Company Profile
Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.
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