Servicesource International Inc (NASDAQ:SREV) Short Interest Update

Servicesource International Inc (NASDAQ:SREV) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 432,000 shares, an increase of 7.1% from the August 30th total of 403,500 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 231,400 shares, the days-to-cover ratio is presently 1.9 days.

In related news, CEO Gary B. Moore acquired 117,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $0.86 per share, with a total value of $100,620.00. Following the acquisition, the chief executive officer now directly owns 818,241 shares in the company, valued at $703,687.26. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 9.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SREV. Horrell Capital Management Inc. raised its holdings in shares of Servicesource International by 32.1% in the 2nd quarter. Horrell Capital Management Inc. now owns 925,000 shares of the technology company’s stock valued at $879,000 after acquiring an additional 225,000 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Servicesource International by 47.2% in the 2nd quarter. Acadian Asset Management LLC now owns 713,245 shares of the technology company’s stock worth $677,000 after buying an additional 228,669 shares during the last quarter. Cowen Prime Services LLC grew its position in shares of Servicesource International by 281.6% in the 2nd quarter. Cowen Prime Services LLC now owns 419,724 shares of the technology company’s stock worth $399,000 after buying an additional 309,724 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Servicesource International during the second quarter valued at approximately $336,000. Finally, Jane Street Group LLC bought a new stake in shares of Servicesource International during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 61.27% of the company’s stock.

Several equities analysts have recently weighed in on SREV shares. ValuEngine cut shares of Servicesource International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded Servicesource International from a “buy” rating to a “hold” rating in a report on Thursday, October 10th.

NASDAQ:SREV opened at $0.94 on Thursday. The stock’s 50-day moving average is $0.92 and its 200-day moving average is $0.95. Servicesource International has a 1-year low of $0.70 and a 1-year high of $2.73. The stock has a market cap of $89.18 million, a P/E ratio of -23.38 and a beta of 1.47. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.31.

Servicesource International (NASDAQ:SREV) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $52.36 million for the quarter, compared to analyst estimates of $55.25 million. Servicesource International had a negative return on equity of 5.03% and a negative net margin of 7.11%. As a group, equities analysts forecast that Servicesource International will post -0.12 EPS for the current year.

Servicesource International Company Profile

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

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