Safeguard Scientifics, Inc (NYSE:SFE) Short Interest Update

Safeguard Scientifics, Inc (NYSE:SFE) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 438,400 shares, an increase of 6.8% from the September 30th total of 410,600 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average trading volume of 78,400 shares, the days-to-cover ratio is currently 5.6 days.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC acquired a new position in Safeguard Scientifics during the third quarter worth approximately $115,000. Strs Ohio acquired a new position in Safeguard Scientifics during the second quarter worth approximately $582,000. NJ State Employees Deferred Compensation Plan increased its position in Safeguard Scientifics by 4.6% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 22,833 shares of the asset manager’s stock worth $275,000 after buying an additional 1,000 shares during the last quarter. Janus Henderson Group PLC increased its position in Safeguard Scientifics by 26.6% during the second quarter. Janus Henderson Group PLC now owns 600,355 shares of the asset manager’s stock worth $7,237,000 after buying an additional 126,008 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Safeguard Scientifics by 13.5% during the second quarter. Vanguard Group Inc. now owns 1,291,339 shares of the asset manager’s stock worth $15,586,000 after buying an additional 153,584 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SFE traded down $0.08 during midday trading on Friday, reaching $11.74. The company had a trading volume of 62,303 shares, compared to its average volume of 61,066. The company has a quick ratio of 13.03, a current ratio of 13.03 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $11.29 and its 200 day moving average price is $11.80. The stock has a market cap of $244.03 million, a PE ratio of 6.32 and a beta of 0.83. Safeguard Scientifics has a 1-year low of $7.98 and a 1-year high of $12.91.

Safeguard Scientifics (NYSE:SFE) last announced its quarterly earnings results on Thursday, November 7th. The asset manager reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.44. On average, research analysts expect that Safeguard Scientifics will post 2.29 earnings per share for the current fiscal year.

SFE has been the topic of a number of recent research reports. ValuEngine raised Safeguard Scientifics from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Zacks Investment Research raised Safeguard Scientifics from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, November 12th.

About Safeguard Scientifics

Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings. It initially invests in a Series A-C round and opportunistically in a seed round.

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