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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) has experienced a notable increase in short interest throughout January. As of January 31, there were 496,700 shares reported as shorted, marking a 6.0% rise from the previous total of 468,800 shares on January 15. This indicates that approximately 2.7% of the company’s total shares are currently short sold. Given the average daily trading volume of 109,700 shares, the short-interest ratio now stands at 4.5 days.

Analysts Set New Price Targets

Recently, several equity analysts have shared their insights on Consensus Cloud Solutions. BTIG Research raised its price target for the company from $30.00 to $32.00 and recommended a "buy" rating in a report dated November 11. Similarly, Oppenheimer increased their price objective from $23.00 to $27.00, assigning an "outperform" rating in a note released on November 8. Wedbush also adjusted their target price upward, from $24.00 to $32.00, while maintaining an "outperform" rating on the same day. In contrast, Citigroup decreased their price target from $19.00 to $20.00, giving a "sell" rating in a report issued on January 17. Currently, two analysts have rated the stock as a sell, while three have given it a buy rating. According to data from MarketBeat, Consensus Cloud Solutions has an average rating of "Hold" with a consensus target price of $26.40.

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Consensus Cloud Solutions Stock Performance

On Monday, shares of NASDAQ:CCSI fell by $0.43, closing at $28.81. The trading volume for the day was 75,802 shares, which is below the average volume of 104,248. Over the past twelve months, the stock has fluctuated between a low of $11.62 and a high of $32.10. The company's 50-day moving average is currently at $25.62, while the 200-day moving average is $23.68. Consensus Cloud Solutions has a market capitalization of approximately $556.15 million, 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 large institutional investors have adjusted their stakes in Consensus Cloud Solutions. SG Americas Securities LLC made a new investment in the company, acquiring shares during the third quarter valued at around $148,000. CWM LLC increased its ownership of the stock by 87.3% in the same quarter, bringing its total holdings to 16,469 shares worth approximately $388,000. Additionally, Creative Planning and Greenleaf Trust also acquired new positions in the company during the third quarter, worth about $285,000 and $1,634,000 respectively. Overall, institutional investors and hedge funds collectively own about 93.93% of Consensus Cloud Solutions’ shares.

Consensus Cloud Solutions Company Profile

(Get Free Report) Consensus Cloud Solutions, Inc., along with its subsidiaries, offers information delivery services through a software-as-a-service model on a global scale. The company is known for its eFax Corporate, which is a cloud-based digital fax technology, and Unite, a versatile platform that enables users to send and receive healthcare information through multiple protocols. Unite can either seamlessly integrate into existing electronic health record systems or function independently if no EHR is available.

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This article is based on market data and financial insights to provide readers with a brief overview of significant developments regarding Consensus Cloud Solutions, Inc.

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