Tufin Software Technologies Ltd (NYSE:TUFN) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 858,400 shares, a drop of 10.7% from the July 31st total of 961,300 shares. Currently, 8.6% of the company’s shares are sold short. Based on an average trading volume of 330,200 shares, the days-to-cover ratio is currently 2.6 days.

Shares of TUFN traded up $0.40 during midday trading on Friday, hitting $17.71. The company had a trading volume of 200,393 shares, compared to its average volume of 327,536. The company has a 50-day moving average price of $18.47. Tufin Software Technologies has a 1 year low of $15.15 and a 1 year high of $31.04.

Tufin Software Technologies (NYSE:TUFN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.06. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.99 million. The company’s revenue was up 35.7% on a year-over-year basis. Research analysts forecast that Tufin Software Technologies will post -0.79 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in TUFN. Optimus Prime Fund Management Co. Ltd. purchased a new position in shares of Tufin Software Technologies in the 2nd quarter valued at about $26,000. Tower Research Capital LLC TRC purchased a new position in shares of Tufin Software Technologies in the 2nd quarter valued at about $44,000. Wells Fargo & Company MN purchased a new position in shares of Tufin Software Technologies in the 2nd quarter valued at about $176,000. BlackRock Inc. purchased a new position in shares of Tufin Software Technologies in the 2nd quarter valued at about $180,000. Finally, Morgan Stanley purchased a new position in shares of Tufin Software Technologies in the 2nd quarter valued at about $213,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

TUFN has been the subject of a number of research analyst reports. Barclays restated a “buy” rating and set a $34.00 target price on shares of Tufin Software Technologies in a report on Thursday, July 18th. Zacks Investment Research upgraded Tufin Software Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $29.57.

Tufin Software Technologies Company Profile

Tufin Ltd. provides security policy management solutions. It offers Orchestration Suite, a solution for automatically designing, provisioning, analyzing, and auditing network security changes from the application layer down to the network layer; SecureTrack, a management platform for firewalls, routers, load-balancers, and additional network devices; SecureChange, a solution for automating firewall and router configuration changes across complex networks; SecureApp, a solution that enables organizations to manage network connectivity and security policies; and Tufin Iris, a cloud-native solution that enables cloud operations and IT security teams to gain visibility and control of security policies for cloud-based applications.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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