Simulations Plus, Inc. (NASDAQ:SLP) Short Interest Down 29.5% in September

Simulations Plus, Inc. (NASDAQ:SLP) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,170,000 shares, a drop of 29.5% from the September 15th total of 1,660,000 shares. Approximately 7.2% of the shares of the company are short sold. Based on an average trading volume of 689,700 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 689,700 shares, the days-to-cover ratio is presently 1.7 days. Approximately 7.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Simulations Plus

Several hedge funds have recently made changes to their positions in SLP. Tributary Capital Management LLC grew its position in shares of Simulations Plus by 214.7% in the third quarter. Tributary Capital Management LLC now owns 1,136,980 shares of the technology company’s stock valued at $17,134,000 after purchasing an additional 775,704 shares in the last quarter. First Light Asset Management LLC purchased a new position in shares of Simulations Plus in the second quarter valued at $6,232,000. Stephens Investment Management Group LLC purchased a new position in shares of Simulations Plus in the second quarter valued at $4,687,000. Ameriprise Financial Inc. grew its position in shares of Simulations Plus by 25.3% in the second quarter. Ameriprise Financial Inc. now owns 875,447 shares of the technology company’s stock valued at $15,277,000 after purchasing an additional 176,747 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in shares of Simulations Plus by 195.6% in the third quarter. North Star Investment Management Corp. now owns 168,130 shares of the technology company’s stock valued at $2,534,000 after purchasing an additional 111,255 shares in the last quarter. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research upgraded Simulations Plus to a “hold” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Simulations Plus in a report on Wednesday, October 8th. TD Cowen assumed coverage on Simulations Plus in a report on Tuesday, September 30th. They set a “hold” rating and a $16.00 price target on the stock. Cowen assumed coverage on Simulations Plus in a report on Tuesday, September 30th. They set a “hold” rating on the stock. Finally, KeyCorp lowered Simulations Plus from an “overweight” rating to a “sector weight” rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Simulations Plus has a consensus rating of “Hold” and an average target price of $24.40.

Simulations Plus Price Performance

Shares of SLP opened at $17.83 on Friday. The firm has a market cap of $358.92 million, a PE ratio of -5.66 and a beta of 0.99. The stock’s fifty day moving average price is $15.09 and its two-hundred day moving average price is $20.53. Simulations Plus has a 1 year low of $12.39 and a 1 year high of $37.67.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.