Short Interest in WalkMe Ltd. (NASDAQ:WKME) Grows By 216.0%

WalkMe Ltd. (NASDAQ:WKME) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,310,000 shares, an increase of 216.0% from the May 31st total of 414,500 shares. Approximately 5.0% of the company’s stock are short sold. Based on an average trading volume of 694,300 shares, the days-to-cover ratio is presently 1.9 days.

WalkMe Stock Down 0.1 %

NASDAQ WKME traded down $0.02 during trading hours on Friday, hitting $13.97. 403,603 shares of the company’s stock traded hands, compared to its average volume of 2,036,288. WalkMe has a 52-week low of $7.60 and a 52-week high of $14.09. The firm’s 50-day moving average is $10.36 and its 200-day moving average is $9.80.

WalkMe (NASDAQ:WKME) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.06. WalkMe had a negative return on equity of 43.53% and a negative net margin of 14.52%. The firm had revenue of $68.57 million during the quarter, compared to analysts’ expectations of $68.10 million.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Circumference Group LLC purchased a new position in WalkMe in the fourth quarter worth approximately $977,000. Scalar Gauge Management LLC acquired a new stake in shares of WalkMe during the 4th quarter worth about $6,083,000. Citigroup Inc. raised its holdings in WalkMe by 6.5% in the 3rd quarter. Citigroup Inc. now owns 24,060 shares of the company’s stock valued at $228,000 after buying an additional 1,472 shares during the period. Quadrature Capital Ltd raised its holdings in WalkMe by 203.9% in the 4th quarter. Quadrature Capital Ltd now owns 59,862 shares of the company’s stock valued at $637,000 after buying an additional 40,161 shares during the period. Finally, Corton Capital Inc. lifted its position in WalkMe by 114.1% in the third quarter. Corton Capital Inc. now owns 39,851 shares of the company’s stock valued at $378,000 after buying an additional 21,236 shares during the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WKME shares. Citigroup cut their target price on WalkMe from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Barclays cut their price target on shares of WalkMe from $8.50 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, May 23rd. Needham & Company LLC restated a “hold” rating on shares of WalkMe in a research note on Thursday, June 6th. Morgan Stanley dropped their price objective on shares of WalkMe from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Finally, KeyCorp initiated coverage on shares of WalkMe in a report on Thursday, March 21st. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.86.

About WalkMe

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's AI-driven digital adoption platform helps companies to effectively navigate change brought by technology, which stack, identifies, and delivers the personalized guidance and automation.