Tenable Holdings Inc (NASDAQ:TENB) Sees Large Growth in Short Interest

Tenable Holdings Inc (NASDAQ:TENB) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 2,270,200 shares, an increase of 28.2% from the July 31st total of 1,770,300 shares. Based on an average daily volume of 666,500 shares, the days-to-cover ratio is presently 3.4 days. Currently, 6.7% of the company’s stock are short sold.

In related news, Director John C. Huffard, Jr. sold 10,700 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.95, for a total transaction of $266,965.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerry M. Kennelly sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.96, for a total value of $367,360.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,317 shares of company stock valued at $3,465,519. 31.90% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in Tenable during the 2nd quarter worth approximately $31,000. Bank of Montreal Can boosted its holdings in shares of Tenable by 1,850.0% in the 2nd quarter. Bank of Montreal Can now owns 4,329 shares of the company’s stock valued at $124,000 after buying an additional 4,107 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Tenable in the 1st quarter valued at approximately $205,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Tenable by 4,624.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,472 shares of the company’s stock valued at $205,000 after buying an additional 6,335 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Tenable in the 1st quarter valued at approximately $244,000. 52.53% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:TENB traded up $0.08 during trading hours on Friday, reaching $23.42. 309 shares of the stock were exchanged, compared to its average volume of 526,429. Tenable has a twelve month low of $20.00 and a twelve month high of $39.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a 50 day moving average of $23.92 and a 200 day moving average of $28.49. The stock has a market cap of $2.24 billion, a PE ratio of -17.26 and a beta of 2.70.

Tenable (NASDAQ:TENB) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.17. Tenable had a negative return on equity of 65.80% and a negative net margin of 26.92%. The firm had revenue of $85.38 million during the quarter, compared to the consensus estimate of $82.73 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. The business’s revenue was up 34.3% on a year-over-year basis. Equities research analysts anticipate that Tenable will post -0.95 earnings per share for the current year.

A number of analysts recently issued reports on the company. Stifel Nicolaus set a $38.00 target price on Tenable and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Macquarie assumed coverage on Tenable in a research note on Tuesday, July 16th. They set a “neutral” rating and a $35.00 target price for the company. Deutsche Bank set a $38.00 target price on Tenable and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Nomura set a $29.00 target price on Tenable and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Wedbush reaffirmed a “buy” rating and set a $44.00 price target on shares of Tenable in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Tenable currently has an average rating of “Buy” and a consensus price target of $36.00.

About Tenable

Tenable Holdings, Inc provides cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company enterprise software platform enables visibility into an organization's cyber exposure across the attack surface and deep insights that help organizations translate vulnerability data into business insights to understand and reduce their cybersecurity risk.

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