Clarivate PLC (NYSE:CLVT) Short Interest Up 21.2% in February

Clarivate PLC (NYSE:CLVT) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 61,217,098 shares, a growth of 21.2% from the January 29th total of 50,498,661 shares. Approximately 12.0% of the company’s stock are short sold. Based on an average daily volume of 9,542,428 shares, the short-interest ratio is currently 6.4 days. Based on an average daily volume of 9,542,428 shares, the short-interest ratio is currently 6.4 days. Approximately 12.0% of the company’s stock are short sold.

Clarivate Stock Up 7.1%

CLVT stock opened at $2.47 on Wednesday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -8.25 and a beta of 1.55. Clarivate has a 1-year low of $1.66 and a 1-year high of $4.77. The firm has a fifty day moving average price of $2.69 and a two-hundred day moving average price of $3.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.84.

Analyst Upgrades and Downgrades

CLVT has been the topic of a number of recent analyst reports. Barclays cut their target price on Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Royal Bank Of Canada dropped their target price on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and cut their target price for the company from $4.20 to $3.60 in a research note on Thursday, January 8th. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $3.30.

Hedge Funds Weigh In On Clarivate

Several institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in shares of Clarivate by 11.2% in the 2nd quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after purchasing an additional 2,617 shares during the last quarter. California State Teachers Retirement System increased its position in Clarivate by 0.9% in the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock worth $1,304,000 after buying an additional 2,788 shares during the period. Envestnet Asset Management Inc. lifted its stake in Clarivate by 3.9% in the third quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock valued at $296,000 after buying an additional 2,884 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Clarivate by 8.1% during the third quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock valued at $170,000 after acquiring an additional 3,117 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Clarivate by 4.3% during the second quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after acquiring an additional 4,792 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.