AutoWeb, Inc. (NASDAQ:AUTO) Sees Significant Decrease in Short Interest

AutoWeb, Inc. (NASDAQ:AUTO) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 213,000 shares, a drop of 19.0% from the August 15th total of 263,000 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average trading volume of 213,400 shares, the days-to-cover ratio is currently 1.0 days.

Several analysts recently issued reports on AUTO shares. Zacks Investment Research downgraded AutoWeb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 13th. Barrington Research cut their price target on AutoWeb from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, June 1st.

Shares of NASDAQ AUTO opened at $2.57 on Tuesday. The company has a market cap of $34.61 million, a price-to-earnings ratio of -25.70 and a beta of 2.24. AutoWeb has a 12-month low of $2.15 and a 12-month high of $4.84. The stock’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $2.81.

AutoWeb (NASDAQ:AUTO) last posted its quarterly earnings data on Wednesday, August 4th. The information services provider reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.05. AutoWeb had a negative return on equity of 8.13% and a negative net margin of 1.92%. The company had revenue of $18.74 million for the quarter, compared to the consensus estimate of $18.24 million. Equities research analysts forecast that AutoWeb will post -0.14 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of AutoWeb during the fourth quarter valued at $36,000. Millennium Management LLC grew its holdings in shares of AutoWeb by 73.6% during the first quarter. Millennium Management LLC now owns 23,330 shares of the information services provider’s stock valued at $62,000 after buying an additional 9,889 shares in the last quarter. State Street Corp purchased a new position in shares of AutoWeb during the second quarter valued at $126,000. Essex Investment Management Co. LLC purchased a new position in shares of AutoWeb during the second quarter valued at $421,000. Finally, Union Square Park Capital Management LLC purchased a new position in shares of AutoWeb during the first quarter valued at $534,000. Institutional investors and hedge funds own 13.17% of the company’s stock.

About AutoWeb

AutoWeb, Inc engages in digital marketing solutions. The company engages in assisting automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers by utilizing digital sales enhancing products and services. Its consumer-facing automotive websites provide consumers with information and tools to aid them with their automotive purchase decisions and gives in-market consumers the ability to connect with Dealers regarding purchasing or leasing vehicles.

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