Qumu Co. (NASDAQ:QUMU) Short Interest Update

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Qumu Co. (NASDAQ:QUMU) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 118,400 shares, a drop of 27.0% from the March 31st total of 162,100 shares. Based on an average daily trading volume, of 111,100 shares, the days-to-cover ratio is currently 1.1 days.

Several research analysts recently weighed in on the stock. Colliers Securities restated a “hold” rating on shares of Qumu in a report on Sunday, March 7th. Northland Securities initiated coverage on shares of Qumu in a research report on Monday, February 8th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Qumu from a “hold” rating to a “sell” rating in a research report on Wednesday, March 10th.

Qumu stock traded down $0.07 during midday trading on Tuesday, reaching $5.49. 700 shares of the stock were exchanged, compared to its average volume of 109,645. The company’s fifty day moving average is $6.43 and its 200-day moving average is $6.85. The firm has a market cap of $96.57 million, a PE ratio of -9.59 and a beta of 1.52. Qumu has a 52 week low of $1.82 and a 52 week high of $10.50.

Qumu (NASDAQ:QUMU) last released its quarterly earnings results on Thursday, April 29th. The technology company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.02). Qumu had a negative return on equity of 78.80% and a negative net margin of 24.25%. As a group, analysts forecast that Qumu will post -0.49 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Dorsey Wright & Associates boosted its stake in shares of Qumu by 135.0% in the 1st quarter. Dorsey Wright & Associates now owns 5,123 shares of the technology company’s stock valued at $35,000 after purchasing an additional 2,943 shares in the last quarter. Virtu Financial LLC bought a new stake in Qumu during the 4th quarter valued at $94,000. Hillsdale Investment Management Inc. bought a new stake in Qumu during the 1st quarter valued at $123,000. Squarepoint Ops LLC bought a new stake in Qumu during the 3rd quarter valued at $128,000. Finally, NorthRock Partners LLC bought a new stake in Qumu during the 4th quarter valued at $133,000. 32.56% of the stock is owned by institutional investors and hedge funds.

Qumu Company Profile

Qumu Corporation provides tools to create, manage, secure, distribute, and measure live and on-demand video content for the enterprises. It offers software on a license, cloud-hosted software as a service, or term software license basis; and sells third-party hardware appliances, as well as provides maintenance and support, and professional and other services.

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