Switch Inc (NYSE:SWCH) was the target of a significant growth in short interest in December. As of December 29th, there was short interest totalling 7,043,241 shares, a growth of 49.8% from the December 15th total of 4,701,693 shares. Currently, 19.8% of the shares of the stock are short sold. Based on an average daily volume of 1,144,680 shares, the short-interest ratio is presently 6.2 days.
SWCH has been the subject of a number of analyst reports. Zacks Investment Research upgraded Switch from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, January 5th. Credit Suisse Group set a $22.00 price target on Switch and gave the company a “buy” rating in a research report on Saturday, December 16th. BTIG Research initiated coverage on Switch in a research report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price target for the company. Jefferies Group initiated coverage on Switch in a research report on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Co initiated coverage on Switch in a research report on Tuesday, October 31st. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Switch presently has a consensus rating of “Buy” and a consensus target price of $21.83.
Switch (NYSE SWCH) opened at $17.25 on Tuesday. Switch has a 52-week low of $15.77 and a 52-week high of $24.90. The company has a debt-to-equity ratio of 5.18, a current ratio of 0.34 and a quick ratio of 0.34.
Switch (NYSE:SWCH) last issued its quarterly earnings data on Monday, November 13th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $95.81 million. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. equities research analysts predict that Switch will post 0.02 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a $0.014 dividend. The ex-dividend date of this dividend was Friday, December 15th.
Switch Company Profile
Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.
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