Short Interest in Genius Sports Limited (NYSE:GENI) Rises By 16.4%

Genius Sports Limited (NYSE:GENI) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 17,420,000 shares, a growth of 16.4% from the September 15th total of 14,960,000 shares. Based on an average daily volume of 2,990,000 shares, the days-to-cover ratio is currently 5.8 days. Currently, 9.4% of the company’s shares are short sold.

Genius Sports Stock Performance

Shares of GENI stock traded up $0.01 during mid-day trading on Wednesday, reaching $7.61. 1,719,837 shares of the company’s stock traded hands, compared to its average volume of 2,339,580. The firm has a market capitalization of $1.75 billion, a PE ratio of -19.51 and a beta of 1.96. The firm has a 50 day moving average price of $7.54 and a two-hundred day moving average price of $6.25. Genius Sports has a 12 month low of $4.62 and a 12 month high of $8.64.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The company had revenue of $95.50 million during the quarter, compared to the consensus estimate of $94.15 million. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. As a group, equities analysts expect that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on GENI shares. 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 research note on Thursday, August 8th. Macquarie lowered their price target on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. B. Riley increased their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $10.00 price target on shares of Genius Sports in a report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday, August 6th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $9.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in shares of Genius Sports during the 3rd quarter valued at approximately $78,000. Koss Olinger Consulting LLC purchased a new stake in shares of Genius Sports in the second quarter worth approximately $64,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Genius Sports during the 2nd quarter worth approximately $67,000. Virtu Financial LLC purchased a new stake in shares of Genius Sports during the first quarter valued at $94,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Genius Sports by 42.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock worth $98,000 after purchasing an additional 5,342 shares in the last quarter. Institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

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.