Kinaxis Inc. (OTCMKTS:KXSCF) Sees Significant Decrease in Short Interest

Kinaxis Inc. (OTCMKTS:KXSCF) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 92,501 shares, a decrease of 39.2% from the April 15th total of 152,220 shares. Based on an average daily volume of 8,350 shares, the days-to-cover ratio is presently 11.1 days. Currently, 0.3% of the shares of the stock are sold short.

Kinaxis Trading Down 0.2%

Shares of KXSCF traded down $0.24 during trading hours on Monday, reaching $100.27. 836 shares of the company traded hands, compared to its average volume of 10,462. Kinaxis has a 12 month low of $84.70 and a 12 month high of $158.91. The company has a market capitalization of $2.74 billion and a price-to-earnings ratio of 58.30. The company’s fifty day moving average price is $102.37 and its two-hundred day moving average price is $110.47. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Kinaxis in a research report on Friday, May 8th. BMO Capital Markets restated an “outperform” rating on shares of Kinaxis in a research report on Friday, May 8th. Scotiabank reiterated an “outperform” rating on shares of Kinaxis in a research report on Wednesday, February 4th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Kinaxis in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

About Kinaxis

Kinaxis Inc provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, and Canada. It offers RapidResponse, a cloud-based platform, which provides advanced planning, sales and operation planning, supply and demand planning, inventory management, and command and control center services. The company also provides strategic services, such as digital business transformation, advanced analytics, and digital innovation and acceleration services; implementation, including agile implementation methodology, RapidStart, sustainment, and rollout services; and continuous learning services consisting of Kinaxis learning center, custom learning programs, and certification, as well as support services.