Genius Sports Limited witnessed a noteworthy surge in short interest during December, marking a substantial increase of 20.7% from November 30th. As of December 15th, the total short interest amounted to 7,510,000 shares. Approximately 6.2% of the company’s shares are currently sold short, with a days-to-cover ratio of 4.0 days based on the average daily trading volume of 1,870,000 shares.
On Thursday morning, Genius Sports Limited’s stock experienced a modest decline, opening at $5.56 following its closing price of $5.61 on Wednesday. Genius Sports Ltd’s current stock price stands at $5.56 USD, reflecting a slight decrease of $0.055 (0.98%) as of today, January 4th, at 1:13 pm GMT-5.
The company’s 50-day moving average stands at $5.50, while the 200-day moving average is at $5.99. Over the past year, the stock has fluctuated between a low of $3.30 and a high of $8.45.
Various equities research analysts have weighed in on Genius Sports Limited shares. Cantor Fitzgerald initiated coverage on October 12th, assigning an “overweight” rating and a $8.00 price objective. JMP Securities reaffirmed a “market outperform” rating on September 27th, with a $9.00 price target. Craig Hallum adjusted their price objective from $15.00 to $12.00, maintaining a “buy” rating on November 14th. Benchmark reiterated a “buy” rating and set a $10.00 target price on the same day. Macquarie, on December 21st, initiated coverage with an “outperform” rating and a $11.00 target price. According to MarketBeat.com, the stock currently holds an average rating of “Buy” from ten investment analysts, with a consensus price target of $9.46.
Genius Sports reported its quarterly earnings results on November 13th, revealing an earnings per share (EPS) of ($0.06) for the quarter. This figure fell short of the consensus estimate by ($0.02). The company generated $101.70 million in revenue during the quarter, surpassing analyst estimates of $100.38 million. Genius Sports exhibited a negative net margin of 44.69% and a negative return on equity of 14.37%. However, its revenue increased by 29.2% year-over-year. In the same period the previous year, the company posted an EPS of ($0.04). Analysts collectively anticipate that Genius Sports will report -0.25 EPS for the current fiscal year.
Despite the recent increase in short interest and the quarterly earnings miss, Genius Sports Limited continues to draw attention from analysts, with a consensus outlook of optimism for the future. The stock’s performance and the ongoing analysis underscore the dynamic nature of the market and the varying perspectives on the company’s potential trajectory. Investors are closely monitoring developments as they await further insights into Genius Sports’ financial performance and strategic moves in the upcoming quarters.
Source: MarketBeat
