Vasco up 2% on bullish Tigress launch; French deal announced
Jun 16 2015, 09:19 ET | By: Eric Jhonsa, SA News
Tigress Financial has launched coverage on Vasco (NASDAQ:VDSI) with a Buy rating. The authentication hardware/software provider has risen to $32.65 premarket, making fresh 52-week highs a day after doing so amid a broader rally in security tech plays.
Separately, Vasco has announced French bank Banque Populaire will install the company's Bluetooth-enabled Digipass 875 card readers at its branches.
Short-covering could be giving Vasco a lift: An eye-popping 44.9% of the float was shorted as of May 29. A screen by SA contributor Bespoke Investment Group indicates that figure is the 3rd-highest among S&P 1500 names.
Just released latest short list and VDSI is 3rd with approx. 44% of stock held short. To me this will be the catalyst for higher prices. Last quarter was very good and the prediction for future very bright. Zachs has it as a strong buy #1 rating. I'm sure there will be bumps in the road as the tug of war continues but it goes higher in the end.