HireRight Holdings Co. (NYSE:HRT) Sees Significant Increase in Short Interest

HireRight Holdings Co. (NYSE:HRT) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 344,600 shares, a growth of 13.9% from the May 15th total of 302,600 shares. Based on an average daily volume of 216,500 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.1% of the shares of the company are short sold.

Hedge Funds Weigh In On HireRight

Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund grew its position in shares of HireRight by 328.5% in the fourth quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock valued at $69,000 after purchasing an additional 3,929 shares during the period. SG Americas Securities LLC acquired a new stake in HireRight in the 4th quarter worth about $106,000. Dark Forest Capital Management LP purchased a new stake in HireRight during the 3rd quarter worth approximately $118,000. FNY Investment Advisers LLC acquired a new position in shares of HireRight during the fourth quarter valued at approximately $174,000. Finally, Virtu Financial LLC raised its holdings in shares of HireRight by 20.5% during the first quarter. Virtu Financial LLC now owns 12,190 shares of the company’s stock valued at $174,000 after acquiring an additional 2,072 shares during the last quarter. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HRT. William Blair upgraded shares of HireRight from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. StockNews.com assumed coverage on shares of HireRight in a report on Friday. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

HireRight Stock Performance

Shares of HRT traded down $0.01 during trading hours on Tuesday, hitting $14.34. The stock had a trading volume of 23,340 shares, compared to its average volume of 361,280. The firm has a 50-day moving average price of $14.31 and a 200 day moving average price of $13.75. HireRight has a fifty-two week low of $8.69 and a fifty-two week high of $14.39. The firm has a market capitalization of $40.44 million, a price-to-earnings ratio of -57.36 and a beta of 0.17.

HireRight (NYSE:HRT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $173.20 million during the quarter, compared to analyst estimates of $170.20 million.

HireRight Company Profile

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.