Short Interest in Red Violet Inc (NASDAQ:RDVT) Expands By 14.9%

Red Violet Inc (NASDAQ:RDVT) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 372,300 shares, an increase of 14.9% from the June 30th total of 323,900 shares. Based on an average trading volume of 36,000 shares, the days-to-cover ratio is currently 10.3 days. Currently, 9.0% of the company’s stock are sold short.

Separately, ValuEngine downgraded Red Violet from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st.

Shares of RDVT traded up $0.52 during trading hours on Tuesday, hitting $14.02. 1,973 shares of the company were exchanged, compared to its average volume of 34,763. The company’s 50 day simple moving average is $13.27. Red Violet has a 52 week low of $4.76 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.79 and a current ratio of 2.79.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $7.25 million for the quarter. Red Violet had a negative return on equity of 16.91% and a negative net margin of 38.64%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Granite Investment Partners LLC acquired a new position in shares of Red Violet during the 1st quarter worth about $856,000. Renaissance Technologies LLC lifted its position in shares of Red Violet by 222.5% during the 2nd quarter. Renaissance Technologies LLC now owns 66,114 shares of the company’s stock worth $820,000 after purchasing an additional 45,614 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Red Violet during the 2nd quarter worth about $570,000. 13.44% of the stock is owned by institutional investors and hedge funds.

About Red Violet

Red Violet, Inc, a software and services company, specializes in big data analysis providing cloud-based mission-critical information solutions to enterprises in various industries in the United States. Its proprietary platform includes CORE, a cloud-based technology platform, which serves various industries within risk management.

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