Is Buying Carbonite Incorporated (NASDAQ:CARB), Having Lower Short Interest a Winning Strategy?

September 17, 2017 - By Maria Brooks

 Is Buying Carbonite Incorporated (NASDAQ:CARB), Having Lower Short Interest a Winning Strategy?

Investors sentiment decreased to 1.85 in Q4 2016. Its down 0.26, from 2.11 in 2016Q3. It fall, as 14 investors sold Carbonite Inc shares while 34 reduced holdings. 41 funds opened positions while 48 raised stakes. 21.96 million shares or 13.46% more from 19.35 million shares in 2016Q3 were reported.
Blackrock Institutional Tru Na invested in 0% or 654,566 shares. Amer Century Companies Incorporated accumulated 206,345 shares. Trexquant Investment L P holds 0.11% or 41,435 shares. Wall Street Associate has invested 0.59% in Carbonite Inc (NASDAQ:CARB). United Kingdom-based Legal General Group Inc Public Limited Company has invested 0% in Carbonite Inc (NASDAQ:CARB). Geode Capital Mgmt Limited Liability Company has 0% invested in Carbonite Inc (NASDAQ:CARB) for 185,332 shares. Geneva Limited stated it has 0.01% in Carbonite Inc (NASDAQ:CARB). Eam Ltd Liability holds 0.3% or 139,902 shares in its portfolio. Hillsdale Invest Mngmt invested 0.18% of its portfolio in Carbonite Inc (NASDAQ:CARB). Piermont Capital Mgmt reported 0.11% stake. Zacks Invest Management stated it has 71,202 shares or 0.03% of all its holdings. White Pine Capital Ltd Limited Liability Company has invested 0.34% in Carbonite Inc (NASDAQ:CARB). Argent Capital Lc reported 0.08% of its portfolio in Carbonite Inc (NASDAQ:CARB). Moreover, Gsa Capital Prns Llp has 0.08% invested in Carbonite Inc (NASDAQ:CARB). Menta Ltd accumulated 71,857 shares.

Since March 24, 2017, it had 0 insider purchases, and 12 selling transactions for $1.39 million activity. Another trade for 10,574 shares valued at $223,271 was made by SHEER DANIELLE on Friday, May 5. FOLGER ANTHONY sold $129,544 worth of Carbonite Inc (NASDAQ:CARB) on Friday, May 12. Shares for $53,453 were sold by Guadagno Norman. HUDSON CASSANDRA also sold $42,919 worth of Carbonite Inc (NASDAQ:CARB) shares. The insider Mellinger Paul S. sold 7,500 shares worth $157,820.

The stock of Carbonite Incorporated (NASDAQ:CARB) registered a decrease of 6.61% in short interest. CARB’s total short interest was 2.72 million shares in September as published by FINRA. Its down 6.61% from 2.92 million shares, reported previously. With 344,900 shares average volume, it will take short sellers 8 days to cover their CARB’s short positions. The short interest to Carbonite Incorporated’s float is 11.94%.

The stock decreased 0.24% or $0.05 on September 15, reaching $20.5. About 380,637 shares traded. Carbonite Inc (NASDAQ:CARB) has risen 113.73% since September 17, 2016 and is uptrending. It has outperformed by 97.03% the S&P500.

Carbonite, Inc. provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service and e-mail archiving. The company has market cap of $569.88 million. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. It has a 1473.76 P/E ratio. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.

Carbonite Inc (NASDAQ:CARB) Ratings Coverage

Among 6 analysts covering Carbonite (NASDAQ:CARB), 3 have Buy rating, 2 Sell and 1 Hold. Therefore 50% are positive. Carbonite had 8 analyst reports since September 21, 2015 according to SRatingsIntel. As per Friday, August 4, the company rating was maintained by Barclays Capital. The stock has “Buy” rating by Lake Street on Tuesday, February 28. Zacks downgraded Carbonite Inc (NASDAQ:CARB) on Monday, September 21 to “Sell” rating. Oppenheimer maintained it with “Buy” rating and $3000 target in Friday, August 4 report. B. Riley & Co initiated it with “Buy” rating and $15 target in Friday, June 10 report. Oppenheimer upgraded Carbonite Inc (NASDAQ:CARB) on Tuesday, October 11 to “Outperform” rating.

More recent Carbonite Inc (NASDAQ:CARB) news were published by: Seekingalpha.com which released: “Carbonite Acquires Datacastle For Enterprise Endpoint Software” on August 22, 2017. Also Globenewswire.com published the news titled: “Carbonite Grabs Market Share in Strategic Referral Deal” on August 22, 2017. Seekingalpha.com‘s news article titled: “Firm Founders Have Moved On; Investors Should Also” with publication date: September 06, 2017 was also an interesting one.

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