MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Up 28.5% in November

MercadoLibre, Inc. (NASDAQ:MELI) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 774,600 shares, a growth of 28.5% from the October 31st total of 603,000 shares. Based on an average daily volume of 382,600 shares, the short-interest ratio is currently 2.0 days. Currently, 1.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MELI shares. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Wedbush reiterated an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Trading Down 2.9 %

Shares of MELI stock opened at $1,985.17 on Monday. The stock has a market capitalization of $100.65 billion, a P/E ratio of 70.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61. MercadoLibre has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a 50 day moving average price of $2,020.96 and a 200 day moving average price of $1,869.98.

Hedge Funds Weigh In On MercadoLibre

Several institutional investors have recently modified their holdings of the business. Planning Capital Management Corp increased its holdings in MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP increased its stake in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares during the period. Belpointe Asset Management LLC raised its holdings in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC grew its holdings in MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.