Violin Memory Inc (NYSE:VMEM) near 52-week low, short interest dropping

Violin Memory Inc (NYSE:VMEM) (TREND ANALYSIS) shares were traded with a significant increase in volume. The stock closed last trading session at $3.16, down by -1.56%, with a volume of 1,916,324 shares against an average volume for the last 3 months of 965,720.

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Violin Memory Inc (NYSE:VMEM) is currently trading 43.06% below its 52-week-high, 4.64% above its 52-week-low. The 1-year range for the stock is $3.02 – $5.55. Violin Memory Inc (VMEM) has a price to book ratio of 14.08 versus Technology sector average of 2.46. VMEM stock price has underperformed the S&P 500 by 37%. The Computers & Memory Devices company is currently valued at $0.3 billion and its share price closed the last trading session at $3.16. The stock has a 50-day moving average of $3.49 and a 200-day moving average of $4.07.

Violin Memory Inc (VMEM) current short interest stands at 9.91 million shares. It has decreased by 11% from the same period of last month. Around 12% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.8 million shares, the number of days required to cover the short positions stand at 12.4 days.

VMEM reported last quarter earnings on June 02. The Computers & Memory Devices company announced earnings per share of $-0.28 against a consensus Street estimate of $-0.25, missing estimate by $0.03. This corresponds to an increase of $0.09 compared to the same quarter of the previous fiscal year.

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There are currently four analysts that cover VMEM stock. Of those four, one has a Buy rating, three have a Hold rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $5.5.

The most recent analyst activity consisted of Barclays reiterating their Equal-weight stance on March 6. Barclays decreased price target from $6 to $5. This corresponds to a 58.23% upside from the last closing price. On the date of report, the stock closed at $3.59.

Deutsche Bank reiterated their Hold stance on the same day, and decreased their price target from $5.5 to $4. This corresponds to a 26.58% upside from the last closing price. On the date of report, the stock closed at $3.59.

Company profile

Violin Memory, Inc. develops and markets data storage infrastructure products and services. The Company offers products which is used in the areas of database and analytics, metadata servers, scientific computing, and storage caching. Violin Memory operates worldwide.

Violin Memory Inc (NYSE:VMEM) near 52-week low, short interest dropping was last modified: June 3rd, 2015 by Jason Seligman