SharpSpring Inc (NASDAQ:SHSP) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 848,300 shares, a growth of 25.8% from the July 31st total of 674,100 shares. Approximately 13.3% of the shares of the company are short sold. Based on an average daily trading volume, of 160,600 shares, the days-to-cover ratio is presently 5.3 days.

Several equities analysts have recently weighed in on SHSP shares. Roth Capital cut their target price on shares of SharpSpring from $21.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stephens raised shares of SharpSpring from an “equal” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $13.00 in a report on Thursday, August 8th. National Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of SharpSpring in a report on Wednesday, August 7th. Canaccord Genuity cut their target price on shares of SharpSpring from $22.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Craig Hallum raised shares of SharpSpring from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Monday, June 24th. Seven investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $17.33.

In other news, insider North Peak Capital Management, sold 291,494 shares of SharpSpring stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $12.25, for a total transaction of $3,570,801.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Allen sold 1,763,454 shares of SharpSpring stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $12.25, for a total transaction of $21,602,311.50. The disclosure for this sale can be found here. Company insiders own 25.55% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in SharpSpring in the 2nd quarter valued at $29,000. JPMorgan Chase & Co. acquired a new stake in SharpSpring in the 2nd quarter valued at $30,000. Wells Fargo & Company MN grew its stake in SharpSpring by 47.0% in the 2nd quarter. Wells Fargo & Company MN now owns 7,205 shares of the technology company’s stock valued at $93,000 after acquiring an additional 2,302 shares during the period. Centaurus Financial Inc. acquired a new stake in SharpSpring in the 1st quarter valued at $107,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in SharpSpring in the 2nd quarter valued at $135,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

SharpSpring stock traded down $0.07 during trading on Friday, reaching $11.87. The company had a trading volume of 106 shares, compared to its average volume of 68,182. The firm’s 50-day simple moving average is $10.79 and its 200 day simple moving average is $14.40. SharpSpring has a 1-year low of $8.48 and a 1-year high of $21.10. The firm has a market capitalization of $130.74 million, a PE ratio of -10.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.30 and a current ratio of 6.30.

SharpSpring Company Profile

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

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