HireRight Holdings Co. (NYSE:HRT) Short Interest Up 25.6% in April

HireRight Holdings Co. (NYSE:HRT) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 376,400 shares, a growth of 25.6% from the March 31st total of 299,600 shares. Based on an average daily trading volume, of 513,600 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund increased its position in HireRight by 328.5% during the 4th quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock valued at $69,000 after buying an additional 3,929 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of HireRight in the 4th quarter valued at approximately $106,000. Dark Forest Capital Management LP acquired a new stake in HireRight in the 3rd quarter worth approximately $118,000. Keybank National Association OH purchased a new stake in HireRight during the 3rd quarter worth approximately $121,000. Finally, FNY Investment Advisers LLC acquired a new position in HireRight during the 4th quarter valued at approximately $174,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HRT. Needham & Company LLC restated a “hold” rating on shares of HireRight in a research note on Friday, February 16th. StockNews.com assumed coverage on HireRight in a report on Saturday. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.50.

HireRight Price Performance

NYSE HRT traded down $0.02 during midday trading on Tuesday, hitting $14.30. 86,267 shares of the company traded hands, compared to its average volume of 456,347. The company has a market cap of $40.33 million, a PE ratio of -57.20 and a beta of 0.17. HireRight has a 52 week low of $8.50 and a 52 week high of $14.38. The company’s 50-day simple moving average is $14.23 and its 200-day simple moving average is $12.81.

HireRight (NYSE:HRT) last posted its earnings results on Tuesday, March 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $166.04 million during the quarter, compared to analysts’ expectations of $170.35 million.

About HireRight

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.