Climb Global Solutions, Inc. (NASDAQ:CLMB) Sees Significant Growth in Short Interest

Climb Global Solutions, Inc. (NASDAQ:CLMB) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 92,000 shares, a growth of 13.4% from the December 31st total of 81,100 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 33,200 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On Climb Global Solutions

A number of large investors have recently made changes to their positions in CLMB. De Lisle Partners LLP grew its holdings in shares of Climb Global Solutions by 24.1% during the third quarter. De Lisle Partners LLP now owns 194,280 shares of the company’s stock valued at $19,272,000 after buying an additional 37,747 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Climb Global Solutions by 314.5% during the third quarter. Royce & Associates LP now owns 35,919 shares of the company’s stock valued at $3,575,000 after buying an additional 27,254 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Climb Global Solutions by 138,542.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,705 shares of the company’s stock valued at $1,230,000 after buying an additional 9,698 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Climb Global Solutions by 66.8% during the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock valued at $1,814,000 after purchasing an additional 7,298 shares during the period. Finally, State Street Corp lifted its position in Climb Global Solutions by 12.5% during the third quarter. State Street Corp now owns 62,692 shares of the company’s stock valued at $6,240,000 after purchasing an additional 6,979 shares during the period. 49.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a report on Thursday, December 12th.

Climb Global Solutions Stock Down 2.8 %

Shares of CLMB traded down $3.55 during trading hours on Monday, reaching $123.19. 20,784 shares of the company traded hands, compared to its average volume of 26,187. The stock has a market capitalization of $567.88 million, a P/E ratio of 33.48, a P/E/G ratio of 1.74 and a beta of 1.13. Climb Global Solutions has a 12-month low of $49.69 and a 12-month high of $142.50. The business has a fifty day moving average price of $129.85 and a 200-day moving average price of $107.69.

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.