Short Interest in Mobileiron Inc (NASDAQ:MOBL) Decreases By 59.0%

Mobileiron Inc (NASDAQ:MOBL) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 803,000 shares, a drop of 59.0% from the May 15th total of 1,959,300 shares. Based on an average trading volume of 806,100 shares, the short-interest ratio is currently 1.0 days. Approximately 1.1% of the shares of the company are short sold.

In other news, VP Sohail M. Parekh sold 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.09, for a total value of $60,900.00. Following the sale, the vice president now owns 557,080 shares in the company, valued at $3,392,617.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth R. Klein sold 30,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $5.91, for a total transaction of $177,300.00. Following the completion of the sale, the director now owns 113,995 shares in the company, valued at approximately $673,710.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,034 shares of company stock worth $1,002,646. 13.48% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MOBL. Quantamental Technologies LLC grew its holdings in shares of Mobileiron by 78.7% during the 1st quarter. Quantamental Technologies LLC now owns 8,400 shares of the software maker’s stock worth $46,000 after purchasing an additional 3,700 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Mobileiron during the 1st quarter worth $57,000. Amalgamated Bank acquired a new stake in shares of Mobileiron during the 4th quarter worth $50,000. GSA Capital Partners LLP acquired a new stake in shares of Mobileiron during the 4th quarter worth $68,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Mobileiron by 2,038.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,272 shares of the software maker’s stock worth $89,000 after purchasing an additional 15,511 shares in the last quarter. 62.12% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently commented on MOBL shares. Zacks Investment Research cut Green Plains from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 27th. BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, Northland Securities started coverage on Enphase Energy in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $24.00 price objective for the company.

MOBL stock traded up $0.22 during midday trading on Friday, reaching $6.51. The stock had a trading volume of 1,503,804 shares, compared to its average volume of 992,276. Mobileiron has a twelve month low of $3.98 and a twelve month high of $6.58. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $683.86 million, a price-to-earnings ratio of -15.50 and a beta of 1.70. The business’s fifty day moving average price is $5.88.

Mobileiron (NASDAQ:MOBL) last released its earnings results on Thursday, April 25th. The software maker reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). Mobileiron had a negative net margin of 22.17% and a negative return on equity of 80.43%. The firm had revenue of $48.10 million during the quarter, compared to the consensus estimate of $48.10 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The company’s revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that Mobileiron will post -0.39 EPS for the current year.

About Mobileiron

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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