Qumu Corp (NASDAQ:QUMU) Sees Significant Increase in Short Interest

Qumu Corp (NASDAQ:QUMU) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 14,000 shares, an increase of 2,700.0% from the August 30th total of 500 shares. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s shares are short sold.

A number of equities analysts have recently commented on the company. ValuEngine downgraded Qumu from a “sell” rating to a “strong sell” rating in a report on Saturday, October 5th. Zacks Investment Research upgraded Qumu from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Dougherty & Co started coverage on Qumu in a research note on Wednesday, July 10th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Qumu presently has a consensus rating of “Hold” and a consensus target price of $3.00.

QUMU stock opened at $3.11 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.38. Qumu has a 1 year low of $1.85 and a 1 year high of $4.78. The stock has a 50-day simple moving average of $3.13 and a 200-day simple moving average of $3.38.

Qumu (NASDAQ:QUMU) last posted its earnings results on Tuesday, July 30th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Qumu had a negative return on equity of 11.95% and a negative net margin of 8.42%. The business had revenue of $5.37 million during the quarter. On average, research analysts expect that Qumu will post -0.67 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of QUMU. Acadian Asset Management LLC acquired a new stake in shares of Qumu in the second quarter valued at about $55,000. Worth Venture Partners LLC acquired a new stake in Qumu during the 2nd quarter valued at approximately $433,000. Vanguard Group Inc. grew its stake in Qumu by 135.4% during the 2nd quarter. Vanguard Group Inc. now owns 250,994 shares of the technology company’s stock valued at $1,042,000 after purchasing an additional 144,375 shares in the last quarter. BlackRock Inc. grew its stake in Qumu by 8.5% during the 2nd quarter. BlackRock Inc. now owns 294,765 shares of the technology company’s stock valued at $1,224,000 after purchasing an additional 23,021 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Qumu by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 765,371 shares of the technology company’s stock valued at $3,176,000 after purchasing an additional 84,190 shares in the last quarter. Institutional investors and hedge funds own 34.35% of the company’s stock.

Qumu Company Profile

Qumu Corporation provides tools to create, manage, secure, distribute, and deliver live and on-demand video content for the enterprises. It offers an end-to-end video creation, management, and delivery solution through the sale of software licenses and hardware, software on server appliance, software-enabled devices, and a cloud-hosted software-as-a-service platform.

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