The Hewlett Packard Enterprise Co. (HPE) Sees Large Decrease in Short Interest

The Hewlett Packard Enterprise Co. (HPE) Sees Large Decrease in Short Interest

Hewlett Packard Enterprise Co. (NYSE:HPE) was the target of a significant drop in short interest in October. As of October 14th, there was short interest totalling 21,495,932 shares, a drop of 24.0% from the September 30th total of 28,286,877 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 9,845,875 shares, the short-interest ratio is currently 2.2 days.

Hewlett Packard Enterprise (NYSE:HPE) opened at 22.17 on Monday. The stock has a market capitalization of $36.92 billion and a price-to-earnings ratio of 9.25. Hewlett Packard Enterprise has a one year low of $11.62 and a one year high of $23.53. The company has a 50-day moving average of $22.17 and a 200-day moving average of $19.82.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Wednesday, September 7th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. Hewlett Packard Enterprise had a net margin of 8.31% and a return on equity of 10.15%. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.64 billion. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts forecast that Hewlett Packard Enterprise will post $1.92 EPS for the current fiscal year.

In other Hewlett Packard Enterprise news, CFO Timothy C. Stonesifer sold 101,610 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $22.01, for a total transaction of $2,236,436.10. Following the sale, the chief financial officer now owns 101,610 shares in the company, valued at $2,236,436.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael G. Nefkens sold 107,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $22.00, for a total value of $2,365,000.00. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

A number of hedge funds have recently bought and sold shares of HPE. Hanlon Investment Management Inc. increased its position in shares of Hewlett Packard Enterprise by 19.2% in the second quarter. Hanlon Investment Management Inc. now owns 276,636 shares of the company’s stock worth $5,054,000 after buying an additional 44,500 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Hewlett Packard Enterprise during the second quarter worth approximately $37,854,000. California State Teachers Retirement System increased its position in shares of Hewlett Packard Enterprise by 0.4% in the second quarter. California State Teachers Retirement System now owns 3,767,029 shares of the company’s stock worth $68,824,000 after buying an additional 16,865 shares in the last quarter. Whitebox Advisors LLC bought a new position in shares of Hewlett Packard Enterprise during the second quarter worth approximately $16,979,000. Finally, Samlyn Capital LLC bought a new position in shares of Hewlett Packard Enterprise during the first quarter worth approximately $36,722,000. 80.50% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on HPE shares. Vetr upgraded Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating and set a $25.36 price target on the stock in a research report on Tuesday, October 4th. Oppenheimer Holdings Inc. raised their price target on Hewlett Packard Enterprise from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, July 14th. Barclays PLC restated an “underweight” rating and set a $17.00 price target on shares of Hewlett Packard Enterprise in a research report on Wednesday, October 12th. FBN Securities restated an “outperform” rating on shares of Hewlett Packard Enterprise in a research report on Thursday, September 8th. Finally, Zacks Investment Research upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, October 5th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fifteen have given a buy rating to the company’s stock. Hewlett Packard Enterprise has an average rating of “Hold” and a consensus price target of $21.62.

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