Genius Sports Limited (NYSE:GENI) Short Interest Up 10.1% in July

Genius Sports Limited (NYSE:GENI) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 10,250,000 shares, an increase of 10.1% from the July 15th total of 9,310,000 shares. Approximately 6.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,330,000 shares, the short-interest ratio is presently 4.4 days.

Genius Sports Price Performance

Shares of Genius Sports stock traded up $0.23 during trading on Monday, hitting $7.52. The stock had a trading volume of 2,753,637 shares, compared to its average volume of 2,258,839. Genius Sports has a 12 month low of $4.62 and a 12 month high of $7.77. The firm’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $5.94. The stock has a market cap of $1.73 billion, a PE ratio of -18.69 and a beta of 1.95.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The business had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $94.15 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts expect that Genius Sports will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GENI. Macquarie dropped their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, July 18th. JMP Securities lifted their price target on shares of Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 9th. B. Riley upped their price objective on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup initiated coverage on Genius Sports in a report on Thursday, June 13th. They set a “buy” rating and a $9.00 price target for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports has an average rating of “Buy” and a consensus price target of $9.45.

Hedge Funds Weigh In On Genius Sports

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Genius Sports by 383.6% during the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after buying an additional 5,772,540 shares during the period. Ophir Asset Management Pty Ltd purchased a new position in Genius Sports during the 4th quarter valued at about $21,961,000. Divisadero Street Capital Management LP bought a new stake in shares of Genius Sports in the 2nd quarter valued at about $11,233,000. Nikko Asset Management Americas Inc. lifted its position in shares of Genius Sports by 25.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after purchasing an additional 1,702,602 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Genius Sports by 25.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after purchasing an additional 1,702,602 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports

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.