Marqeta, Inc. (NASDAQ:MQ) Short Interest Down 21.5% in January

Marqeta, Inc. (NASDAQ:MQ) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 13,580,000 shares, a drop of 21.5% from the January 15th total of 17,310,000 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average trading volume of 6,070,000 shares, the short-interest ratio is presently 2.2 days.

Marqeta Stock Down 2.4 %

NASDAQ MQ opened at $3.62 on Friday. The stock has a market capitalization of $1.82 billion, a PE ratio of 181.00 and a beta of 1.52. The company has a 50 day moving average price of $3.80 and a two-hundred day moving average price of $4.49. Marqeta has a 12-month low of $3.37 and a 12-month high of $7.36.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MQ shares. Susquehanna dropped their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Mizuho dropped their target price on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their target price on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.65.

Institutional Trading of Marqeta

A number of institutional investors have recently added to or reduced their stakes in MQ. AQR Capital Management LLC lifted its stake in shares of Marqeta by 62.3% in the second quarter. AQR Capital Management LLC now owns 30,805 shares of the company’s stock worth $169,000 after buying an additional 11,821 shares during the last quarter. Creative Planning increased its holdings in Marqeta by 61.2% in the 2nd quarter. Creative Planning now owns 72,924 shares of the company’s stock valued at $400,000 after buying an additional 27,691 shares during the period. SG Americas Securities LLC increased its holdings in Marqeta by 364.3% in the 3rd quarter. SG Americas Securities LLC now owns 78,495 shares of the company’s stock valued at $386,000 after buying an additional 61,590 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in Marqeta by 2.5% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock valued at $10,028,000 after buying an additional 49,104 shares during the period. Finally, nVerses Capital LLC increased its holdings in Marqeta by 917.2% in the 3rd quarter. nVerses Capital LLC now owns 29,500 shares of the company’s stock valued at $145,000 after buying an additional 26,600 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.