Short Interest To Observe: Is Buying Covisint Corporation (NASDAQ:COVS), Having Higher Short Interest a Winning Strategy?

November 30, 2016 - By Ruchi Gupta   ·   0 Comments

Short Interest To Observe: Is Buying Covisint Corporation (NASDAQ:COVS), Having Higher Short Interest a Winning Strategy?

The stock of Covisint Corporation (NASDAQ:COVS) registered an increase of 1.42% in short interest. COVS’s total short interest was 292,200 shares in November as published by FINRA. Its up 1.42% from 288,100 shares, reported previously. With 24,900 shares average volume, it will take short sellers 12 days to cover their COVS’s short positions. The short interest to Covisint Corporation’s float is 1.06%. The stock closed at $2.2 during the last session. It is down 20.22% since April 27, 2016 and is uptrending. It has outperformed by 14.99% the S&P500.

Covisint Corporation provides an open, enterprise class cloud platform enabling organizations to build solutions that identify, authenticate and connect users, devices, applications and information. The company has a market cap of $87.86 million. The Company’s Auto Supply Portal is involved in the development and integration of three cloud technologies, such as identity management, data integration and exchange services, and portal services. It currently has negative earnings. The Company’s Platform is delivered through the cloud as a Platform as a Service (PaaS).

Insitutional Activity: The institutional sentiment decreased to 0.58 in 2016 Q2. Its down 0.57, from 1.15 in 2016Q1. The ratio fall, as 6 funds sold all Covisint Corp shares owned while 14 reduced positions. 8 funds bought stakes while 15 increased positions. They now own 24.89 million shares or 3.48% less from 25.78 million shares in 2016Q1.
The Texas-based Dimensional Fund Advsrs L P has invested 0% in Covisint Corp (NASDAQ:COVS). Panagora Asset Inc accumulated 0% or 2,931 shares. Gabelli Funds Ltd Company holds 0% of its portfolio in Covisint Corp (NASDAQ:COVS) for 205,076 shares. Oxford Asset last reported 0% of its portfolio in the stock. Moreover, Goldman Sachs Grp has 0% invested in Covisint Corp (NASDAQ:COVS) for 14,238 shares. Citigroup holds 0% of its portfolio in Covisint Corp (NASDAQ:COVS) for 23,327 shares. Grantham Mayo Van Otterloo Ltd owns 273,987 shares or 0% of their US portfolio. California Pub Employees Retirement Sys accumulated 84,236 shares or 0% of the stock. Tower Rech Ltd Limited Liability Company (Trc) accumulated 0% or 9,840 shares. Morgan Stanley holds 0% of its portfolio in Covisint Corp (NASDAQ:COVS) for 24,350 shares. Gradient Invs Lc owns 28 shares or 0% of their US portfolio. Plante Moran Financial Advsr Limited Liability holds 0% of its portfolio in Covisint Corp (NASDAQ:COVS) for 1,512 shares. Ladenburg Thalmann Fincl Ser reported 28 shares or 0% of all its holdings. Jacobs Levy Equity Management last reported 135,642 shares in the company. Wells Fargo & Communication Mn has invested 0% of its portfolio in Covisint Corp (NASDAQ:COVS).

COVS Company Profile

Covisint Corporation, incorporated on April 1, 2008, provides an open, enterprise class cloud platform (Platform) enabling organizations to build solutions that identify, authenticate and connect users, devices, applications and information. The Company’s Auto Supply Portal is involved in the development and integration of three cloud technologies, such as identity management, data integration and exchange services, and portal services. The Company’s Platform is delivered through the cloud as a Platform as a Service (PaaS).

More recent Covisint Corp (NASDAQ:COVS) news were published by: Quotes.Wsj.com which released: “Covisint Corp. COVS (US: Nasdaq)” on September 26, 2013. Also Fool.com published the news titled: “Why Covisint Corp. Shares Plummeted” on January 25, 2014. Crainsdetroit.com‘s news article titled: “Investor vows to win proxy fight with Covisint” with publication date: June 24, 2016 was also an interesting one.

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By Ruchi Gupta


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