CommerceHub Inc (CHUBA) Sees Large Increase in Short Interest
CommerceHub Inc (NASDAQ:CHUBA) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,353,811 shares, an increase of 40.8% from the January 12th total of 961,538 shares. Based on an average daily volume of 173,195 shares, the short-interest ratio is presently 7.8 days. Currently, 10.1% of the company’s stock are short sold.
Several large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its holdings in CommerceHub by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 55,214 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 2,906 shares in the last quarter. Nationwide Fund Advisors purchased a new position in CommerceHub during the second quarter worth about $137,000. Wells Fargo & Company MN raised its holdings in CommerceHub by 19.9% during the third quarter. Wells Fargo & Company MN now owns 55,684 shares of the technology company’s stock worth $1,257,000 after purchasing an additional 9,237 shares in the last quarter. Hosking Partners LLP purchased a new position in CommerceHub during the third quarter worth about $217,000. Finally, Diligent Investors LLC purchased a new position in CommerceHub during the third quarter worth about $223,000. 28.29% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. BidaskClub downgraded shares of CommerceHub from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. CIBC initiated coverage on shares of CommerceHub in a research note on Friday, December 22nd. They issued a “market perform” rating for the company. Oppenheimer initiated coverage on shares of CommerceHub in a research note on Friday, December 22nd. They issued a “market perform” rating for the company. Zacks Investment Research downgraded shares of CommerceHub from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Northland Securities initiated coverage on shares of CommerceHub in a research note on Thursday, December 28th. They issued an “outperform” rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. CommerceHub has an average rating of “Hold” and a consensus price target of $26.17.
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CommerceHub Company Profile
CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.
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