Genius Sports Limited (NYSE:GENI) Short Interest Up 26.3% in October

Genius Sports Limited (NYSE:GENI) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 24,430,000 shares, a growth of 26.3% from the October 15th total of 19,340,000 shares. Based on an average daily volume of 2,420,000 shares, the short-interest ratio is currently 10.1 days. Approximately 13.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

GENI has been the subject of several research reports. Macquarie increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Tuesday. Benchmark raised their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $10.39.

Genius Sports Stock Down 3.0 %

Shares of GENI traded down $0.28 during mid-day trading on Friday, hitting $9.11. 4,510,654 shares of the company’s stock were exchanged, compared to its average volume of 2,394,244. Genius Sports has a 52 week low of $4.91 and a 52 week high of $10.15. The stock’s 50-day simple moving average is $7.62 and its 200-day simple moving average is $6.56. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -28.97 and a beta of 1.98.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same quarter last year, the business posted ($0.06) EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Analysts forecast that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sound Income Strategies LLC acquired a new position in shares of Genius Sports during the third quarter valued at about $78,000. Arkadios Wealth Advisors bought a new stake in shares of Genius Sports in the third quarter valued at approximately $79,000. Captrust Financial Advisors bought a new stake in shares of Genius Sports in the third quarter valued at approximately $84,000. Koss Olinger Consulting LLC bought a new stake in shares of Genius Sports in the second quarter valued at approximately $64,000. Finally, Walleye Trading LLC raised its position in shares of Genius Sports by 169.9% in the third quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock valued at $95,000 after purchasing an additional 29,555 shares during the period. 81.91% of the stock is owned by institutional investors.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.