Climb Global Solutions, Inc. (NASDAQ:CLMB) Short Interest Up 274.7% in March

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 1,196,230 shares, an increase of 274.7% from the March 15th total of 319,218 shares. Currently, 6.9% of the company’s stock are short sold. Based on an average trading volume of 305,107 shares, the short-interest ratio is currently 3.9 days.

Climb Global Solutions Stock Down 0.6%

NASDAQ CLMB traded down $0.13 during midday trading on Friday, hitting $21.36. The company had a trading volume of 121,469 shares, compared to its average volume of 240,744. Climb Global Solutions has a fifty-two week low of $18.91 and a fifty-two week high of $36.26. The stock has a market cap of $393.45 million, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.35 and a beta of 1.20. The firm has a fifty day simple moving average of $23.75 and a two-hundred day simple moving average of $27.43.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The company had revenue of $193.85 million for the quarter, compared to analyst estimates of $167.75 million. As a group, equities analysts predict that Climb Global Solutions will post 4.14 earnings per share for the current year.

Wall Street Analyst Weigh In

CLMB has been the topic of a number of research analyst reports. Northland Securities initiated coverage on Climb Global Solutions in a report on Monday, March 23rd. They issued an “outperform” rating and a $32.00 target price on the stock. Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wall Street Zen raised Climb Global Solutions from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Barrington Research lowered their target price on Climb Global Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Insider Activity at Climb Global Solutions

In related news, CEO Dale Richard Foster sold 34,000 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $20.13, for a total value of $684,250.00. Following the transaction, the chief executive officer directly owned 294,760 shares in the company, valued at approximately $5,932,045. This trade represents a 10.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Climb Global Solutions

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Climb Global Solutions by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,522 shares of the company’s stock valued at $279,000 after acquiring an additional 131 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Climb Global Solutions during the 1st quarter valued at about $426,000. JPMorgan Chase & Co. boosted its position in shares of Climb Global Solutions by 221.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 32,914 shares of the company’s stock valued at $3,519,000 after acquiring an additional 22,676 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Climb Global Solutions by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 6,007 shares of the company’s stock valued at $642,000 after acquiring an additional 1,047 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Climb Global Solutions by 31.4% during the 2nd quarter. American Century Companies Inc. now owns 9,028 shares of the company’s stock valued at $965,000 after acquiring an additional 2,159 shares in the last quarter. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.