Clarivate PLC (NYSE:CLVT) Short Interest Update

Clarivate PLC (NYSE:CLVT) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 61,217,098 shares, a growth of 21.2% from the January 29th total of 50,498,661 shares. Based on an average daily volume of 9,542,428 shares, the days-to-cover ratio is presently 6.4 days. Currently, 12.0% of the shares of the stock are sold short. Currently, 12.0% of the shares of the stock are sold short. Based on an average daily volume of 9,542,428 shares, the days-to-cover ratio is presently 6.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its position in shares of Clarivate by 11.2% in the 2nd quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after purchasing an additional 2,617 shares in the last quarter. California State Teachers Retirement System raised its stake in Clarivate by 0.9% during the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after buying an additional 2,788 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Clarivate by 3.9% in the third quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock worth $296,000 after acquiring an additional 2,884 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Clarivate by 8.1% in the third quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock worth $170,000 after acquiring an additional 3,117 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Clarivate by 4.3% in the 2nd quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after purchasing an additional 4,792 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CLVT. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Wall Street Zen lowered Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group cut shares of Clarivate from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $4.20 to $3.60 in a research report on Thursday, January 8th. Citigroup lowered their target price on shares of Clarivate from $4.25 to $2.80 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada cut their price target on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 25th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $3.22.

Clarivate Trading Up 2.0%

Shares of CLVT stock opened at $2.57 on Friday. The business has a 50-day moving average of $2.65 and a 200 day moving average of $3.39. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.84. Clarivate has a 1-year low of $1.66 and a 1-year high of $4.77. The stock has a market capitalization of $1.65 billion, a PE ratio of -8.57 and a beta of 1.55.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.