DevvStream Corp. (NASDAQ:DEVS) experienced a notable increase in short interest during December 2023. As of December 15, short interest reached a total of 106,344 shares, marking a significant rise of 26.8% from the previous month’s total of 83,899 shares. This represents 2.9% of the company’s outstanding stock.
The current short-interest ratio stands at 0.2 days, based on an average daily trading volume of 607,593 shares. This metric indicates the average number of days it would take for short sellers to cover their positions.
Analysts Adjust Ratings on DevvStream Shares
Recent evaluations by various financial analysts have influenced the outlook for DevvStream. On October 18, Wall Street Zen downgraded the company from a “hold” rating to a “sell” rating. Similarly, Weiss Ratings reaffirmed its “sell (e+)” rating on the stock on October 8. According to data from MarketBeat, there is currently a consensus rating of “sell” for DevvStream, with one analyst categorizing the stock as a sell.
The downward trend in analyst ratings may be reflected in the stock’s performance. Following the latest earnings report, DevvStream shares declined by 9.3%.
Recent Earnings Results and Company Overview
DevvStream reported its quarterly earnings on December 16, revealing a loss of ($0.14) earnings per share (EPS) for the quarter. This financial performance has added to the scrutiny surrounding the company’s stock as investors weigh potential risks against future opportunities.
Founded in New York, DevvStream Holdings Inc. specializes in carbon credit project co-development and generation, focusing on technology-based solutions. Formerly known as Focus Impact Acquisition Corp., the company aims to innovate within the sustainability sector.
Investors and analysts are encouraged to stay updated on DevvStream’s performance and market position. For ongoing insights, MarketBeat offers a daily email newsletter summarizing the latest news and analyst ratings for DevvStream and related companies.
