Computer Task Group, Incorporated (NASDAQ:CTG) sees a significant drop in short-term interest
Computer Task Group, Incorporated (NASDAQ:CTG) saw a sharp drop in short-term interest during the month of January. As of January 15, there was short interest totaling 14,000 shares, down 57.6% from the December 31 total of 33,000 shares. Based on an average trading volume of 27,900 shares, the day-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s shares are sold short.
Shares of CTG traded at $0.45 during Friday’s midday session, hitting $8.51. The stock recorded a trading volume of 59,859 shares, compared to an average volume of 34,703. The company has a market cap of $130.57 million, a P/E ratio of 18.50, a price/ earnings growth of 0.59 and a beta of 0.77. Computer Task Group has a 12-month low of $6.31 and a 12-month high of $11.68. The company’s 50-day moving average is $8.85 and its two-hundred-day moving average is $8.61.
Computer Task Group (NASDAQ:CTG) last released its quarterly earnings data on Tuesday, November 9. The information technology service provider reported earnings per share of $0.13 for the quarter, beating analysts’ consensus estimate of $0.11 by $0.02. The company posted revenue of $90.60 million in the quarter, compared to $91.19 million expected by analysts. Computer Task Group achieved a return on equity of 9.67% and a net margin of 1.81%. During the same period a year earlier, the company posted EPS of $0.18. Sell-side analysts expect Computer Task Group to post earnings per share of 0.56 for the current fiscal year.
Separately, Zacks Investment Research downgraded Computer Task Group from a “buy” rating to a “hold” rating in a Tuesday, January 11 research report.
Several hedge funds and other institutional investors have recently changed their stock holdings. Lewis Capital Management LLC purchased a new stake in Computer Task Group stock during Q4 for $3,541,000. LPL Financial LLC purchased a new stake in Computer Task Group in the third quarter worth approximately $80,000. Millennium Management LLC increased its stake in Computer Task Group by 16.9% in the third quarter. Millennium Management LLC now owns 15,959 shares of the information technology service provider valued at $127,000 after buying 2,304 additional shares in the last quarter. Ancora Advisors LLC increased its stake in Computer Task Group by 21.6% in the third quarter. Ancora Advisors LLC now owns 165,661 shares of the information technology service provider valued at $1,322,000 after buying an additional 29,383 shares in the last quarter. Finally, Knightsbridge Asset Management LLC increased its stake in Computer Task Group by 6.0% in the third quarter. Knightsbridge Asset Management LLC now owns 30,110 shares of the information technology service provider valued at $240,000 after buying an additional 1,710 shares in the last quarter. Hedge funds and other institutional investors own 52.39% of the company’s shares.
About the Computer task group
Computer Task Group, Inc is engaged in the provision of information technology solutions and staffing services. The company’s services encompass the information technology enterprise solution life cycle, including the planning, development, implementation, management and maintenance phases of the information technology solution. information.
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