Simulations Plus, Inc. (NASDAQ:SLP) Short Interest Up 14.4% in August

Simulations Plus, Inc. (NASDAQ:SLP) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 377,500 shares, a growth of 14.4% from the July 31st total of 330,100 shares. Based on an average daily volume of 149,600 shares, the short-interest ratio is presently 2.5 days. Currently, 3.1% of the shares of the stock are sold short.

Shares of NASDAQ:SLP traded down $0.11 during midday trading on Friday, hitting $34.53. The stock had a trading volume of 122,606 shares, compared to its average volume of 115,075. The company’s 50-day moving average price is $36.90 and its 200-day moving average price is $27.65. The company has a market capitalization of $607.29 million, a P/E ratio of 69.06 and a beta of -0.35. Simulations Plus has a fifty-two week low of $17.18 and a fifty-two week high of $41.95.

Simulations Plus (NASDAQ:SLP) last posted its earnings results on Wednesday, July 10th. The technology company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Simulations Plus had a net margin of 24.09% and a return on equity of 23.48%. The firm had revenue of $9.94 million for the quarter, compared to analyst estimates of $9.85 million. As a group, equities research analysts expect that Simulations Plus will post 0.46 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on SLP shares. BidaskClub lowered shares of Simulations Plus from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 10th. ValuEngine downgraded shares of Simulations Plus from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research raised shares of Simulations Plus from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research report on Friday, July 19th.

In other news, Director John Kenneth Paglia sold 690 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.86, for a total transaction of $26,123.40. Following the sale, the director now directly owns 2,112 shares of the company’s stock, valued at $79,960.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter S. Woltosz sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $36.22, for a total transaction of $869,280.00. The disclosure for this sale can be found here. Corporate insiders own 31.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Simulations Plus by 444.5% in the second quarter. Royal Bank of Canada now owns 6,638 shares of the technology company’s stock valued at $190,000 after purchasing an additional 5,419 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Simulations Plus by 10.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,612 shares of the technology company’s stock valued at $846,000 after purchasing an additional 2,714 shares in the last quarter. First Light Asset Management LLC raised its stake in Simulations Plus by 0.5% in the second quarter. First Light Asset Management LLC now owns 253,530 shares of the technology company’s stock valued at $7,241,000 after purchasing an additional 1,221 shares in the last quarter. Algert Global LLC purchased a new position in shares of Simulations Plus during the second quarter worth approximately $231,000. Finally, Vanguard Group Inc. raised its stake in shares of Simulations Plus by 2.1% during the second quarter. Vanguard Group Inc. now owns 633,117 shares of the technology company’s stock worth $18,082,000 after acquiring an additional 13,115 shares in the last quarter. 41.97% of the stock is currently owned by institutional investors and hedge funds.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation, and machine-learning-based prediction of properties of molecules from their structure worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), pharmacodynamics, and drug-drug interactions of compounds administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments that measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.

Further Reading: Why is cost of goods sold important?

Receive News & Ratings for Simulations Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simulations Plus and related companies with MarketBeat.com's FREE daily email newsletter.