Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Update

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Get Free Report) experienced a notable increase in short interest throughout January. By January 31st, the short interest reached a total of 496,700 shares, marking a 6.0% rise compared to the 468,800 shares recorded on January 15th. This figure indicates that approximately 2.7% of the company's outstanding shares have been short sold. With an average daily trading volume of 109,700 shares, the current short-interest ratio stands at 4.5 days.

Analysts Set New Price Targets

Recently, several equities analysts have provided commentary on Consensus Cloud Solutions. BTIG Research increased their price target for the company from $30.00 to $32.00 and assigned a "buy" rating in a report dated November 11th. Oppenheimer also raised their price objective from $23.00 to $27.00 and rated the stock as "outperform" in a note released on November 8th. Additionally, Wedbush elevated their target price from $24.00 to $32.00 and issued an "outperform" rating on the same date. Citigroup, however, adjusted their price objective from $19.00 to $20.00, categorizing the stock as a "sell" in their report on January 17th. Currently, two research analysts have marked the stock as a sell, while three have issued buy ratings, yielding an average rating of "Hold" and a consensus target price of $26.40 according to MarketBeat.

Get Our Latest Report on CCSI

Consensus Cloud Solutions Stock Performance

On Monday, shares of NASDAQ:CCSI saw a decrease of $0.43, ending the day at $28.81. The trading volume for the day was 75,802 shares, which is lower than the average volume of 104,248 shares. The stock has fluctuated between a 12-month low of $11.62 and a high of $32.10. Its 50-day moving average is recorded at $25.62, while the 200-day average stands at $23.68. With a market capitalization of $556.15 million, the company possesses a price-to-earnings ratio of 6.30 and a beta of 1.45.

Hedge Funds Weigh In On Consensus Cloud Solutions

In recent months, several prominent investors have engaged with the stock, either purchasing or selling shares. SG Americas Securities LLC made a new investment in Consensus Cloud Solutions during the third quarter, approximately valued at $148,000. CWM LLC increased their holdings in the same period by 87.3%, now owning 16,469 shares valued at around $388,000, following an additional acquisition of 7,677 shares. Creative Planning also obtained a new stake worth about $285,000, while Greenleaf Trust entered the stock with an investment of approximately $1,634,000 during the third quarter. Wealth Enhancement Advisory Services LLC joined in with a new position valued at roughly $242,000. Institutional and hedge fund investors now control 93.93% of the company's total stock.

Consensus Cloud Solutions Company Profile

(Get Free Report)

Consensus Cloud Solutions, Inc. and its subsidiaries offer various information delivery services through a global software-as-a-service platform. Their services include eFax Corporate, a digital cloud-fax technology, and Unite, a versatile platform that enables users to send and receive healthcare information through different protocols, which can either be integrated into existing electronic health record systems or function independently if no EHR is in place.

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