Everbridge, Inc. (NASDAQ:EVBG) Short Interest Update

Everbridge, Inc. (NASDAQ:EVBG) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,500,000 shares, an increase of 14.5% from the May 31st total of 1,310,000 shares. Based on an average daily volume of 620,900 shares, the days-to-cover ratio is presently 2.4 days.

Everbridge Price Performance

Shares of EVBG stock remained flat at $35.00 during trading on Wednesday. The business’s 50 day moving average is $34.77 and its 200 day moving average is $30.99. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.72 and a quick ratio of 0.72. Everbridge has a one year low of $18.50 and a one year high of $36.31.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). Everbridge had a positive return on equity of 5.26% and a negative net margin of 11.67%. The company had revenue of $111.43 million during the quarter, compared to the consensus estimate of $111.90 million. On average, sell-side analysts predict that Everbridge will post 0.78 EPS for the current year.

Insider Activity

In related news, insider Bryan Reed Barney sold 3,276 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $34.99, for a total value of $114,627.24. Following the transaction, the insider now directly owns 18,569 shares of the company’s stock, valued at approximately $649,729.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its stake in shares of Everbridge by 112.3% in the third quarter. Hsbc Holdings PLC now owns 19,706 shares of the technology company’s stock worth $442,000 after purchasing an additional 10,425 shares during the last quarter. Ardsley Advisory Partners LP purchased a new position in shares of Everbridge during the third quarter valued at about $3,363,000. Lead Edge Capital Management LLC purchased a new position in shares of Everbridge during the 3rd quarter worth approximately $18,568,000. Kennedy Capital Management LLC lifted its stake in shares of Everbridge by 20.1% in the 3rd quarter. Kennedy Capital Management LLC now owns 38,944 shares of the technology company’s stock valued at $873,000 after purchasing an additional 6,517 shares during the period. Finally, Ironwood Investment Management LLC raised its holdings in Everbridge by 68.1% in the third quarter. Ironwood Investment Management LLC now owns 27,626 shares of the technology company’s stock worth $619,000 after purchasing an additional 11,190 shares in the last quarter. 89.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com began coverage on Everbridge in a report on Sunday. They set a “hold” rating for the company. Robert W. Baird lifted their price objective on Everbridge from $29.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Everbridge in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, Everbridge currently has an average rating of “Hold” and a consensus price target of $29.75.

Everbridge Company Profile

Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events. Its SaaS-based CEM platform enables customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.