Switch Inc (NYSE:SWCH) was the target of a significant growth in short interest in the month of December. As of December 29th, there was short interest totalling 7,043,241 shares, a growth of 49.8% from the December 15th total of 4,701,693 shares. Based on an average daily volume of 1,144,680 shares, the short-interest ratio is currently 6.2 days. Approximately 19.8% of the shares of the company are sold short.
An institutional investor recently bought a new position in Switch stock. Schwab Charles Investment Management Inc. bought a new stake in shares of Switch Inc (NYSE:SWCH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 81,669 shares of the company’s stock, valued at approximately $1,486,000.
Several analysts have issued reports on the company. Credit Suisse Group set a $22.00 price target on Switch and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded Switch from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Thursday, January 11th. Raymond James Financial assumed coverage on Switch in a research report on Tuesday, October 31st. They issued a “market perform” rating on the stock. BTIG Research assumed coverage on Switch in a research report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, William Blair assumed coverage on Switch in a research report on Tuesday, October 31st. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Switch presently has a consensus rating of “Buy” and a consensus target price of $21.83.
Shares of Switch (NYSE:SWCH) opened at $17.02 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.18. Switch has a 52-week low of $15.77 and a 52-week high of $24.90.
Switch (NYSE:SWCH) last posted its earnings results on Monday, November 13th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $95.81 million. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. equities analysts anticipate that Switch will post 0.02 EPS for the current year.
The company also recently announced a special dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a $0.014 dividend. The ex-dividend date of this dividend was Friday, December 15th.
TRADEMARK VIOLATION NOTICE: “Switch Inc (SWCH) Sees Significant Increase in Short Interest” was originally reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.truebluetribune.com/2018/01/19/switch-inc-swch-sees-significant-increase-in-short-interest.html.
Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.
Receive News & Ratings for Switch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Switch and related companies with MarketBeat.com's FREE daily email newsletter.