Finjan Holdings Inc (NASDAQ:FNJN) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 392,700 shares, a drop of 7.2% from the July 31st total of 423,000 shares. Based on an average daily trading volume, of 90,200 shares, the days-to-cover ratio is presently 4.4 days. Currently, 2.2% of the company’s stock are short sold.
A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Finjan by 15.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 57,850 shares of the software maker’s stock worth $128,000 after purchasing an additional 7,800 shares during the last quarter. BlackRock Inc. lifted its stake in Finjan by 101.0% during the second quarter. BlackRock Inc. now owns 100,804 shares of the software maker’s stock worth $224,000 after purchasing an additional 50,657 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Finjan during the second quarter worth approximately $493,000. Municipal Employees Retirement System of Michigan lifted its stake in Finjan by 36.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 137,660 shares of the software maker’s stock worth $306,000 after purchasing an additional 36,580 shares during the last quarter. Finally, Shufro Rose & Co. LLC lifted its stake in Finjan by 23.3% during the second quarter. Shufro Rose & Co. LLC now owns 26,500 shares of the software maker’s stock worth $59,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 54.44% of the company’s stock.
Several brokerages have recently issued reports on FNJN. ValuEngine upgraded Finjan from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. TheStreet cut Finjan from a “c+” rating to a “d+” rating in a research note on Friday, August 30th. Zacks Investment Research cut Finjan from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, B. Riley set a $5.00 price objective on Finjan and gave the company a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Finjan currently has a consensus rating of “Buy” and an average target price of $3.75.
Shares of FNJN traded down $0.03 during midday trading on Friday, hitting $2.00. The company had a trading volume of 64,547 shares, compared to its average volume of 48,230. The company’s 50-day simple moving average is $1.97 and its 200-day simple moving average is $2.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.74 and a current ratio of 4.74. The firm has a market capitalization of $56.08 million, a P/E ratio of 2.86 and a beta of 0.37. Finjan has a 1 year low of $1.71 and a 1 year high of $5.54.
Finjan (NASDAQ:FNJN) last posted its earnings results on Thursday, August 8th. The software maker reported ($0.07) earnings per share for the quarter. The company had revenue of $7.25 million during the quarter, compared to analysts’ expectations of $7.25 million. Equities analysts predict that Finjan will post 0.2 earnings per share for the current fiscal year.
Finjan Company Profile
Finjan Holdings, Inc, a cybersecurity company, provides intellectual property licensing and enforcement services in the United States and internationally. The company owns a portfolio of patents related to software and hardware technologies that proactively detect malicious code and thereby protects end users from identity and data theft, spyware, malware, phishing, Trojans, and other Web and network threats.
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