Upland Software, Inc. (NASDAQ:UPLD) Experiences Significant Increase in Short Interest

Upland Software, Inc. (NASDAQ:UPLD) experienced a noteworthy rise in short interest during December. As of December 15th, the short interest reached 351,500 shares, marking an increase of 45.4% from the total of 241,700 shares reported on November 30th. Presently, around 1.6% of the company's shares are short sold. Given the average daily trading volume of 347,600 shares, the current short-interest ratio stands at 1.0 days.

Interest from Hedge Funds

Various large investors have recently adjusted their positions in Upland Software. For instance, Rice Hall James & Associates LLC increased its stake in the company by 3.7% during the second quarter, bringing its total to 273,575 shares valued at approximately $681,000 after purchasing an additional 9,755 shares. In the third quarter, First Heartland Consultants Inc. acquired a new stake in Upland Software worth around $30,000, while Dynamic Technology Lab Private Ltd also invested about $31,000. Furthermore, Mackenzie Financial Corp raised its holdings by 74.6% during the second quarter, resulting in ownership of 30,191 shares valued at $75,000 after an additional purchase of 12,898 shares. Finally, XTX Topco Ltd also established a new stake in the third quarter worth close to $43,000. Notably, institutional investors currently hold 77.78% of Upland's stock.

Analyst Recommendations

Several research analysts have provided insights into Upland Software's prospects. Needham & Company LLC maintained a 'hold' rating for the shares in a report on November 8th. Meanwhile, StockNews.com upgraded Upland Software from 'hold' to 'buy' in a research note issued on September 12th. In total, one analyst has assigned a 'sell' rating, one has given a 'hold' rating, three have rated it as a 'buy,' and one has issued a 'strong buy' rating. According to data from MarketBeat.com, Upland Software holds an average rating of 'Moderate Buy' alongside a consensus target price of $3.75.

Upland Software Trading Performance

On Friday, shares of UPLD rose by 1.8%, reaching $4.56. The trading volume for the day was 339,940 shares, which is close to the average volume of 345,785 shares. Upland Software holds a market capitalization of $125.13 million, with a price-to-earnings (PE) ratio of -1.01, and a beta of 1.32. The company has a debt-to-equity ratio of 324.05, a quick ratio of 0.99, and a current ratio of 0.99. Its fifty-day simple moving average is $3.45, while the 200-day simple moving average stands at $2.74. The stock has ranged between a 52-week low of $1.79 and a high of $5.64 during this period.

Overview of Upland Software

Upland Software, Inc., along with its subsidiaries, offers cloud-based software applications under its brand name across the United States, United Kingdom, Canada, and other countries. The company's software solutions support organizations in planning, managing, and executing projects, and cover various domains including marketing, sales, contact centers, knowledge management, project management, IT, business operations, human resources, and legal services.

Upland, Stocks, Finance