Rimini Street Inc (NASDAQ:RMNI) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 457,100 shares, a decrease of 10.0% from the June 30th total of 507,900 shares. Based on an average daily trading volume, of 83,100 shares, the short-interest ratio is presently 5.5 days. Approximately 3.7% of the shares of the company are sold short.
Separately, Zacks Investment Research upgraded shares of Rimini Street from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th.
In other news, SVP Nancy Lyskawa sold 45,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $4.83, for a total transaction of $217,350.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Sebastian Grady sold 8,807 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $5.18, for a total transaction of $45,620.26. The disclosure for this sale can be found here. Insiders sold 700,068 shares of company stock valued at $3,595,689 over the last ninety days. Corporate insiders own 64.25% of the company’s stock.
Shares of Rimini Street stock traded down $0.09 on Wednesday, reaching $4.79. 2,472 shares of the stock were exchanged, compared to its average volume of 53,025. Rimini Street has a 1-year low of $4.00 and a 1-year high of $7.46. The stock’s fifty day simple moving average is $5.04. The firm has a market capitalization of $324.81 million and a price-to-earnings ratio of -14.91.
Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Rimini Street had a negative return on equity of 8.15% and a negative net margin of 15.41%. The firm had revenue of $67.96 million for the quarter, compared to analyst estimates of $67.35 million. On average, sell-side analysts forecast that Rimini Street will post 0.19 EPS for the current year.
About Rimini Street
Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.
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