Switch Inc (NYSE:SWCH) saw a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 7,043,241 shares, a growth of 49.8% from the December 15th total of 4,701,693 shares. Approximately 19.8% of the shares of the stock are sold short. Based on an average daily volume of 1,144,680 shares, the days-to-cover ratio is presently 6.2 days.
A number of equities analysts recently weighed in on SWCH shares. Zacks Investment Research raised Switch from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, January 5th. Credit Suisse Group set a $22.00 price target on Switch and gave the stock a “buy” rating in a report on Saturday, December 16th. BTIG Research started coverage on Switch in a report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price target for the company. Jefferies Group started coverage on Switch in a report on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Co started coverage on Switch in a report on Tuesday, October 31st. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.83.
Switch (NYSE SWCH) opened at $17.25 on Tuesday. Switch has a fifty-two week low of $15.77 and a fifty-two week high of $24.90. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.18.
Switch (NYSE:SWCH) last announced its earnings results on Monday, November 13th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $97.70 million for the quarter, compared to analyst estimates of $95.81 million. Switch’s quarterly revenue was up 19.6% compared to the same quarter last year. sell-side analysts predict that Switch will post 0.02 EPS for the current fiscal year.
The company also recently announced a special dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a dividend of $0.014 per share. The ex-dividend date was Friday, December 15th.
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Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.
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