Genius Sports Limited (NYSE:GENI) Sees Significant Increase in Short Interest

Genius Sports Limited (NYSE:GENIGet Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 5,920,000 shares, a growth of 6.1% from the February 29th total of 5,580,000 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 2,180,000 shares, the short-interest ratio is currently 2.7 days.

Analysts Set New Price Targets

GENI has been the subject of several recent research reports. Macquarie initiated coverage on shares of Genius Sports in a report on Thursday, December 21st. They set an “outperform” rating and a $11.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of Genius Sports in a research note on Monday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Wednesday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Genius Sports in a research note on Thursday, March 7th. Finally, Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a research report on Thursday, March 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.50.

Check Out Our Latest Stock Analysis on Genius Sports

Genius Sports Stock Down 0.8 %

NYSE:GENI opened at $5.53 on Wednesday. Genius Sports has a 52 week low of $3.55 and a 52 week high of $8.45. The firm’s 50-day simple moving average is $6.58 and its 200 day simple moving average is $5.86.

Genius Sports (NYSE:GENIGet Free Report) last released its earnings results on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.10). Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $126.53 million. During the same period in the prior year, the business earned ($0.18) earnings per share. Genius Sports’s quarterly revenue was up 20.8% compared to the same quarter last year. Research analysts expect that Genius Sports will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Hedge funds have recently made changes to their positions in the stock. Qube Research & Technologies Ltd acquired a new stake in shares of Genius Sports in the 3rd quarter valued at approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Genius Sports in the 3rd quarter valued at approximately $29,000. Altshuler Shaham Ltd acquired a new stake in shares of Genius Sports in the 4th quarter valued at approximately $35,000. United Capital Financial Advisers LLC acquired a new stake in shares of Genius Sports in the 4th quarter valued at approximately $37,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Genius Sports in the 2nd quarter valued at approximately $39,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Genius Sports Company Profile

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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.

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