Box Inc (NYSE:BOX) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 7,550,000 shares, a drop of 9.9% from the September 30th total of 8,380,000 shares. Currently, 5.3% of the shares of the company are short sold. Based on an average daily volume of 2,170,000 shares, the days-to-cover ratio is presently 3.5 days.
BOX has been the topic of several research reports. Craig Hallum lowered BOX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $15.00 in a report on Thursday, August 29th. DA Davidson raised their price objective on BOX to $21.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JMP Securities lowered BOX from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 12th. Wells Fargo & Co set a $20.00 price objective on BOX and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Oppenheimer dropped their price objective on BOX from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. BOX presently has an average rating of “Hold” and a consensus price target of $19.29.
In other BOX news, Director Kimberly Hammonds sold 3,328 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $15.97, for a total transaction of $53,148.16. Following the transaction, the director now owns 6,658 shares of the company’s stock, valued at $106,328.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BOX by 11.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,765 shares of the software maker’s stock valued at $145,000 after purchasing an additional 927 shares in the last quarter. Truvestments Capital LLC boosted its holdings in BOX by 33.9% in the 3rd quarter. Truvestments Capital LLC now owns 3,950 shares of the software maker’s stock valued at $65,000 after purchasing an additional 1,000 shares in the last quarter. United Services Automobile Association boosted its holdings in BOX by 6.2% in the 2nd quarter. United Services Automobile Association now owns 22,146 shares of the software maker’s stock valued at $390,000 after purchasing an additional 1,295 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in BOX by 13.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,193 shares of the software maker’s stock valued at $202,000 after purchasing an additional 1,411 shares in the last quarter. Finally, CSat Investment Advisory L.P. purchased a new stake in BOX in the 2nd quarter valued at approximately $26,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BOX traded up $0.13 during midday trading on Friday, reaching $15.94. 765,240 shares of the company were exchanged, compared to its average volume of 1,075,631. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 14.57. BOX has a 1 year low of $12.46 and a 1 year high of $24.93. The stock has a fifty day simple moving average of $16.55 and a 200 day simple moving average of $17.08. The stock has a market cap of $2.34 billion, a P/E ratio of -16.60 and a beta of 1.41.
BOX (NYSE:BOX) last released its quarterly earnings results on Wednesday, August 28th. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.01. BOX had a negative return on equity of 491.54% and a negative net margin of 20.29%. The firm had revenue of $172.50 million for the quarter, compared to analyst estimates of $169.49 million. During the same quarter last year, the company posted ($0.05) earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. As a group, analysts forecast that BOX will post -0.99 earnings per share for the current year.
BOX Company Profile
Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.
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