Similarweb Ltd. (NYSE:SMWB) Short Interest Up 47.4% in August

Similarweb Ltd. (NYSE:SMWB) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 931,500 shares, an increase of 47.4% from the August 15th total of 631,800 shares. Based on an average daily volume of 539,000 shares, the short-interest ratio is presently 1.7 days. Currently, 2.0% of the shares of the company are sold short. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 539,000 shares, the short-interest ratio is presently 1.7 days.

Similarweb Trading Down 2.6%

SMWB opened at $9.74 on Thursday. The stock has a market capitalization of $826.63 million, a P/E ratio of -27.83 and a beta of 1.13. Similarweb has a 12-month low of $6.36 and a 12-month high of $17.64. The stock has a 50-day moving average price of $8.90 and a 200-day moving average price of $8.23.

Institutional Trading of Similarweb

Several hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in Similarweb during the 4th quarter valued at about $115,000. Public Employees Retirement System of Ohio boosted its position in Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the period. Fullcircle Wealth LLC bought a new stake in Similarweb in the 1st quarter worth $117,000. MQS Management LLC purchased a new position in shares of Similarweb in the second quarter valued at about $125,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Similarweb during the second quarter valued at about $129,000. 57.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer increased their price objective on Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Barclays reiterated an “overweight” rating on shares of Similarweb in a research note on Wednesday, August 13th. Zacks Research upgraded Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Citigroup cut their target price on shares of Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Similarweb presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.88.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.