NetScout Systems Inc (NASDAQ:NTCT) near 52-week low, short interest down

NetScout Systems Inc (NASDAQ:NTCT) (TREND ANALYSIS) shares were traded with a significant increase in volume. The stock closed last trading session at $35.87, down by -5.46%, with a volume of 1,689,618 shares against an average volume for the last 3 months of 893,097.

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NetScout Systems Inc (NASDAQ:NTCT) stock is currently trading 21.22% below its 52-week-high, 6.98% above its 52-week-low. The 1-year stock price history is in the range of $33.53 – $45.53. NetScout Systems Inc (NTCT) has a price to earnings ratio of 50.38 versus Technology sector average of 20.45. NTCT stock price has underperformed the Nasdaq by 11.9%. The Computers & Integrated Systems company is currently valued at $3.28 billion and its share price closed the last trading session at $35.87. The stock has a 50-day moving average of $37.32 and a 200-day moving average of $38.94.

NetScout Systems Inc (NTCT) current short interest stands at 3.98 million shares. It has decreased by 4% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.63 million shares, the number of days required to cover the short positions stand at 6.4 days.

NTCT reported last quarter earnings on October 29. The Computers & Integrated Systems company announced earnings per share of $0.42 against a consensus Street estimate of $0.29, beating the average estimate by $0.13. This corresponds to an increase of $0.08 compared to the same quarter of the previous fiscal year.

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There are currently nine analysts that cover NetScout Systems Inc stock. Of those nine, seven have a Buy rating, two have a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $45.56.

A recent analyst activity consisted of RBC Capital who initiated their coverage on the stock with Outperform rating on August 13. RBC Capital fixed their price target at $48. This corresponds to a 33.82% upside from the last closing price. On the date of report, the stock closed at $40.59.

Sterne Agee upgraded their Neutral rating to Buy on July 31. On the date of report, the stock closed at $39.88.

Company profile

NetScout Systems, Inc. designs, develops, manufactures, markets, and supports a family of products that enable businesses and service providers to manage the performance of computer networks and business software applications. The Company’s Application Flow Management solution consists of data collection devices and analysis and presentation software.

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