StarTek, Inc. (NYSE:SRT) Sees Large Increase in Short Interest

StarTek, Inc. (NYSE:SRT) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 219,800 shares, an increase of 17.9% from the May 30th total of 186,400 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 110,700 shares, the days-to-cover ratio is currently 2.0 days.

SRT stock traded down $0.11 during trading on Friday, hitting $7.03. The company had a trading volume of 75,305 shares, compared to its average volume of 171,943. StarTek has a 52-week low of $5.26 and a 52-week high of $8.93. The firm has a 50 day moving average of $8.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.13 and a quick ratio of 1.13.

StarTek (NYSE:SRT) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). The company had revenue of $161.14 million during the quarter. StarTek had a negative return on equity of 8.22% and a negative net margin of 5.21%.

Several equities research analysts have recently weighed in on SRT shares. Lake Street Capital set a $12.00 target price on shares of StarTek and gave the company a “buy” rating in a research note on Friday, May 17th. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, ValuEngine raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday.

In other news, Director Bharat Rao bought 274,064 shares of StarTek stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $7.48 per share, with a total value of $2,049,998.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.92% of the company’s stock.

An institutional investor recently raised its position in StarTek stock. BlackRock Inc. boosted its holdings in shares of StarTek, Inc. (NYSE:SRT) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,187 shares of the business services provider’s stock after acquiring an additional 1,595 shares during the period. BlackRock Inc. owned about 1.06% of StarTek worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 11.43% of the stock is owned by hedge funds and other institutional investors.

StarTek Company Profile

StarTek, Inc operates as a business process outsourcing company that provides omnichannel customer interactions and technology back-office support solutions. It primarily offers customer engagement consulting, omnichannel engagement, social media, customer intelligence analytics, scientific research, back office, and receivables management services under the Startek and Aegis brands.

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