Short Interest in Alithya Group Inc. (NASDAQ:ALYA) Increases By 92.1%

Alithya Group Inc. (NASDAQ:ALYAGet Rating) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 31,500 shares, a growth of 92.1% from the March 15th total of 16,400 shares. Based on an average daily volume of 14,400 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.1% of the company’s shares are short sold.

Several analysts recently issued reports on the company. Scotiabank cut their target price on Alithya Group from C$4.25 to C$4.00 in a research note on Friday, February 11th. Zacks Investment Research cut Alithya Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Finally, Desjardins lifted their price objective on Alithya Group from C$4.50 to C$5.25 in a research report on Thursday, February 3rd.

Several hedge funds have recently added to or reduced their stakes in ALYA. Millennium Management LLC purchased a new position in shares of Alithya Group during the second quarter valued at approximately $54,000. CLARET ASSET MANAGEMENT Corp lifted its holdings in shares of Alithya Group by 1.1% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 5,705,144 shares of the company’s stock valued at $14,892,000 after purchasing an additional 61,614 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Alithya Group during the fourth quarter valued at approximately $4,104,000. Northern Trust Corp purchased a new position in shares of Alithya Group during the fourth quarter valued at approximately $32,000. Finally, HB Wealth Management LLC purchased a new position in shares of Alithya Group during the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 32.20% of the company’s stock.

Alithya Group stock opened at $2.51 on Friday. The stock’s 50 day simple moving average is $2.72 and its two-hundred day simple moving average is $2.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $213.88 million, a price-to-earnings ratio of -22.82 and a beta of 0.89. Alithya Group has a fifty-two week low of $2.08 and a fifty-two week high of $3.36.

Alithya Group (NASDAQ:ALYAGet Rating) last released its earnings results on Thursday, February 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Alithya Group had a negative net margin of 2.73% and a negative return on equity of 6.54%. The firm had revenue of $87.04 million during the quarter, compared to analyst estimates of $81.44 million. On average, analysts predict that Alithya Group will post -0.09 earnings per share for the current year.

Alithya Group Company Profile (Get Rating)

Alithya Group Inc provides strategy and digital technology services in Canada, the United States, and Europe. The company's business strategy services include strategic consulting, digital transformation, organizational performance, and enterprise architecture services. It also provides application services, such as digital applications DevOps, legacy systems modernization, control and software engineering, cloud infrastructure, quality assurance, and automated testing; enterprise solutions comprising enterprise resource planning, corporate performance management, customer relationship management, and human capital management; and data and analytics solutions, including business intelligence, data management, artificial intelligence (AI), and machine learning, as well as internet of things.

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