Short Interest in WalkMe Ltd. (NASDAQ:WKME) Declines By 72.2%

WalkMe Ltd. (NASDAQ:WKME) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 154,400 shares, a decrease of 72.2% from the July 15th total of 555,200 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 886,400 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of WalkMe

Several large investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in WalkMe by 9.1% during the first quarter. California State Teachers Retirement System now owns 26,070 shares of the company’s stock worth $224,000 after acquiring an additional 2,166 shares in the last quarter. Quadrature Capital Ltd increased its position in WalkMe by 14.8% during the 1st quarter. Quadrature Capital Ltd now owns 68,703 shares of the company’s stock worth $589,000 after purchasing an additional 8,841 shares in the last quarter. Trexquant Investment LP bought a new position in WalkMe in the 4th quarter valued at approximately $135,000. Pentwater Capital Management LP bought a new position in WalkMe in the 2nd quarter valued at approximately $251,000. Finally, Tidal Investments LLC acquired a new stake in WalkMe in the first quarter valued at approximately $289,000. 70.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of WalkMe from $11.50 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Citigroup lowered their target price on WalkMe from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Wells Fargo & Company reduced their price target on WalkMe from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Barclays dropped their price objective on WalkMe from $8.50 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Morgan Stanley lowered their target price on shares of WalkMe from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.86.

WalkMe Stock Performance

Shares of WalkMe stock traded down $0.01 on Wednesday, reaching $13.85. 42,276 shares of the stock were exchanged, compared to its average volume of 431,063. The firm has a market cap of $1.20 billion, a PE ratio of -31.50 and a beta of 0.15. The firm’s 50 day moving average is $13.86 and its 200-day moving average is $10.61. WalkMe has a one year low of $7.60 and a one year high of $14.09.

WalkMe (NASDAQ:WKME) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $69.51 million during the quarter, compared to the consensus estimate of $69.61 million. WalkMe had a negative net margin of 16.55% and a negative return on equity of 9.60%. WalkMe’s quarterly revenue was up 5.1% on a year-over-year basis.

WalkMe Company Profile

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's AI-driven digital adoption platform helps companies to effectively navigate change brought by technology, which stack, identifies, and delivers the personalized guidance and automation.