Riskified (NYSE:RSKD) Sees Unusually-High Trading Volume

Shares of Riskified Ltd. (NYSE:RSKD) saw unusually-high trading volume on Thursday . Approximately 1,347,681 shares traded hands during mid-day trading, an increase of 93% from the previous session’s volume of 696,489 shares.The stock last traded at $4.75 and had previously closed at $4.60.

Analyst Ratings Changes

Several equities research analysts have recently commented on RSKD shares. Barclays boosted their price objective on Riskified from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. JPMorgan Chase & Co. boosted their price target on shares of Riskified from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. DA Davidson raised their price objective on shares of Riskified from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Truist Financial decreased their target price on shares of Riskified from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group dropped their price target on shares of Riskified from $6.00 to $4.50 and set a “sell” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Riskified currently has a consensus rating of “Hold” and an average price target of $6.16.

Riskified Stock Performance

The stock’s 50 day moving average is $6.18 and its 200 day moving average is $5.54. The company has a market capitalization of $827.20 million, a PE ratio of -14.97 and a beta of 1.40.

Riskified (NYSE:RSKD) last issued its earnings results on Wednesday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Riskified had a negative net margin of 17.28% and a negative return on equity of 9.55%. The business had revenue of $76.41 million for the quarter, compared to analysts’ expectations of $75.40 million. On average, equities research analysts forecast that Riskified Ltd. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Riskified

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new position in Riskified during the 2nd quarter valued at about $163,000. Sei Investments Co. lifted its holdings in shares of Riskified by 110.8% in the second quarter. Sei Investments Co. now owns 34,991 shares of the company’s stock worth $224,000 after buying an additional 18,392 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Riskified in the second quarter valued at approximately $528,000. Renaissance Technologies LLC grew its stake in Riskified by 17.2% during the second quarter. Renaissance Technologies LLC now owns 1,118,900 shares of the company’s stock valued at $7,150,000 after acquiring an additional 164,600 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Riskified during the 2nd quarter worth approximately $208,000. 58.98% of the stock is currently owned by institutional investors.

Riskified Company Profile

Riskified Ltd., together with its subsidiaries, develops and offers an e-commerce risk management platform that allows online merchants to create trusted relationships with consumers in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. It offers Chargeback Guarantee that ensures the legitimacy of merchants' online orders; Policy Protect, a machine learning solution designed to detect and prevent refund and returns policy abuse in real-time; Account Secure, a solution that cross-checks every login attempt; Dispute Resolve, which is used to compile submissions for fraud and non-fraud related chargeback issues; and PSD2 Optimize that helps merchants avoid bank authorization failures and abandoned shopping carts.