HireRight Holdings Co. (NYSE:HRT) Short Interest Update

HireRight Holdings Co. (NYSE:HRT) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 375,500 shares, a growth of 9.0% from the May 31st total of 344,600 shares. Based on an average daily trading volume, of 195,400 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HRT shares. StockNews.com started coverage on HireRight in a research report on Sunday. They set a “hold” rating on the stock. William Blair raised HireRight from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, HireRight presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Institutional Investors Weigh In On HireRight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRT. Park West Asset Management LLC purchased a new position in shares of HireRight in the fourth quarter worth about $14,668,000. Vanguard Group Inc. raised its stake in shares of HireRight by 48.0% in the first quarter. Vanguard Group Inc. now owns 925,466 shares of the company’s stock worth $13,206,000 after purchasing an additional 300,040 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of HireRight in the first quarter worth about $9,926,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of HireRight in the first quarter worth about $5,682,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of HireRight by 37.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 345,620 shares of the company’s stock worth $3,287,000 after purchasing an additional 94,531 shares during the last quarter. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

HireRight Stock Performance

HireRight stock opened at $14.36 on Thursday. The stock has a 50-day moving average of $14.33 and a two-hundred day moving average of $13.84. HireRight has a one year low of $8.69 and a one year high of $14.39. The stock has a market cap of $40.50 million, a PE ratio of -57.44 and a beta of 0.17.

HireRight (NYSE:HRT) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The business had revenue of $173.20 million during the quarter, compared to analysts’ expectations of $170.20 million.

HireRight Company Profile

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.