BTRS Holdings Inc. (NASDAQ:BTRS) saw a significant drop in short interest in the month of October. As of October 29th, there was short interest totalling 6,110,000 shares, a drop of 28.1% from the October 14th total of 8,500,000 shares. Currently, 8.9% of the company’s shares are short sold. Based on an average daily trading volume, of 901,600 shares, the days-to-cover ratio is currently 6.8 days.
Shares of BTRS traded down $0.20 during mid-day trading on Friday, reaching $8.55. 7,296 shares of the company were exchanged, compared to its average volume of 917,496. BTRS has a 52 week low of $8.29 and a 52 week high of $19.76. The stock has a market capitalization of $1.35 billion, a PE ratio of -9.62 and a beta of 0.17. The business has a 50 day simple moving average of $10.01 and a two-hundred day simple moving average of $12.07.
BTRS (NASDAQ:BTRS) last issued its earnings results on Wednesday, November 10th. The company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). Equities research analysts predict that BTRS will post -0.32 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Needham & Company LLC decreased their target price on BTRS from $20.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 11th. They noted that the move was a valuation call. KeyCorp dropped their price target on BTRS from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, November 12th. Zacks Investment Research upgraded BTRS from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America assumed coverage on BTRS in a report on Tuesday, August 24th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Canaccord Genuity reduced their target price on BTRS from $22.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $16.00.
In other news, insider Jeanne O’connor sold 14,049 shares of the firm’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $11.50, for a total value of $161,563.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark L. Shifke purchased 28,435 shares of the firm’s stock in a transaction on Monday, September 13th. The shares were acquired at an average price of $10.13 per share, for a total transaction of $288,046.55. Following the purchase, the chief financial officer now directly owns 190,809 shares of the company’s stock, valued at $1,932,895.17. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 150,949 shares of company stock valued at $1,550,472.
A number of hedge funds have recently modified their holdings of BTRS. Advisor Group Holdings Inc. increased its holdings in BTRS by 569.4% in the second quarter. Advisor Group Holdings Inc. now owns 2,932 shares of the company’s stock worth $38,000 after purchasing an additional 2,494 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in BTRS in the second quarter valued at approximately $47,000. Advisory Services Network LLC acquired a new stake in BTRS in the second quarter valued at approximately $90,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in BTRS in the second quarter valued at approximately $101,000. Finally, Amalgamated Bank acquired a new stake in BTRS in the third quarter valued at approximately $123,000. Institutional investors and hedge funds own 75.99% of the company’s stock.
BTRS Company Profile
BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.