Safe-T Group Ltd (NASDAQ:SFET) Sees Large Decrease in Short Interest

Safe-T Group Ltd (NASDAQ:SFETGet Rating) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 506,300 shares, a drop of 30.2% from the March 15th total of 725,300 shares. Based on an average daily volume of 849,000 shares, the days-to-cover ratio is currently 0.6 days.

Several analysts have commented on SFET shares. Dawson James started coverage on shares of Safe-T Group in a report on Monday, January 31st. They issued a “buy” rating and a $6.00 price objective for the company. Zacks Investment Research lowered shares of Safe-T Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 13th.

A hedge fund recently raised its stake in Safe-T Group stock. Renaissance Technologies LLC grew its holdings in shares of Safe-T Group Ltd (NASDAQ:SFETGet Rating) by 36.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 173,181 shares of the company’s stock after purchasing an additional 46,181 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of Safe-T Group worth $123,000 as of its most recent SEC filing. Institutional investors own 5.85% of the company’s stock.

SFET traded up $0.05 on Tuesday, hitting $0.74. The company had a trading volume of 2,199 shares, compared to its average volume of 784,809. Safe-T Group has a 52-week low of $0.48 and a 52-week high of $1.69. The stock has a fifty day simple moving average of $0.84 and a 200-day simple moving average of $0.89.

Safe-T Group (NASDAQ:SFETGet Rating) last released its earnings results on Tuesday, March 29th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.08). Safe-T Group had a negative net margin of 127.67% and a negative return on equity of 46.16%. During the same quarter in the previous year, the business earned ($0.21) EPS. Analysts expect that Safe-T Group will post -0.35 EPS for the current fiscal year.

About Safe-T Group (Get Rating)

Safe-T Group Ltd. provides intelligent data collection and cybersecurity solutions in Israel, the United States, and internationally. Its cybersecurity solutions comprise ZoneZero SDP, a solution based on software defined perimeter and zero trust network access concepts that grant access to applications on a need-to-know basis only; ZoneZero VPN, a solution designed on zero trust network access concepts to add zero trust capabilities to existing VPN solutions; ZoneZero MFA, a solution designed to add centralized multi-factor authentication capabilities for various types of internal applications; and Secure File Access that reduces insider threats by transforming standard network drives into secure, encrypted, and access-controlled drives, as well as eliminates the need to rely on insecure file permissions and vulnerable server message broker.

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