Short Interest in Converge Technology Solutions Corp. (OTCMKTS:CTSDF) Grows By 9.5%

Converge Technology Solutions Corp. (OTCMKTS:CTSDF – Get Rating) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,291,100 shares, an increase of 9.5% from the February 13th total of 1,179,300 shares. Based on an average daily volume of 34,800 shares, the days-to-cover ratio is presently 37.1 days.

Converge Technology Solutions Price Performance

OTCMKTS:CTSDF opened at $3.00 on Friday. The business has a fifty day simple moving average of $3.77 and a two-hundred day simple moving average of $3.92. Converge Technology Solutions has a 1 year low of $2.70 and a 1 year high of $8.73.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Desjardins lowered their price objective on Converge Technology Solutions from C$8.00 to C$7.00 in a research note on Friday, March 10th. BMO Capital Markets decreased their price target on Converge Technology Solutions from C$8.00 to C$7.50 in a research report on Wednesday, February 15th. Raymond James decreased their price target on Converge Technology Solutions from C$8.50 to C$7.00 in a research report on Wednesday, February 15th. Berenberg Bank decreased their price target on Converge Technology Solutions from C$14.00 to C$9.50 in a research report on Monday, December 5th. Finally, Scotiabank decreased their price target on Converge Technology Solutions from C$10.00 to C$8.00 in a research report on Monday, February 13th.

About Converge Technology Solutions

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Converge Technology Solutions Corp. engages in the provision of hybrid Information Technology solutions. It offers combination of accelerators and foundational infrastructure solutions to deliver best-of-breed solutions and services to customers. The company was founded on November 29, 2016 and is headquartered in Quebec, Canada.