Short Interest in Riskified Ltd. (NYSE:RSKD) Rises By 30.3%

Riskified Ltd. (NYSE:RSKD) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 824,100 shares, an increase of 30.3% from the January 31st total of 632,400 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 475,100 shares, the days-to-cover ratio is presently 1.7 days.

Hedge Funds Weigh In On Riskified

A number of hedge funds and other institutional investors have recently modified their holdings of RSKD. Lazard Asset Management LLC bought a new stake in Riskified in the 4th quarter worth approximately $38,000. Group One Trading LLC raised its stake in shares of Riskified by 4,503.5% during the fourth quarter. Group One Trading LLC now owns 8,719 shares of the company’s stock worth $41,000 after acquiring an additional 8,917 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Riskified in the 4th quarter worth approximately $56,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Riskified in the 4th quarter valued at $74,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Riskified during the 4th quarter valued at $88,000. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on RSKD shares. Piper Sandler cut their target price on Riskified from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Riskified from $5.50 to $5.25 and set a “market perform” rating for the company in a research note on Thursday, November 14th. DA Davidson raised shares of Riskified from a “neutral” rating to a “buy” rating and upped their target price for the stock from $5.00 to $7.00 in a report on Monday. The Goldman Sachs Group cut their price target on shares of Riskified from $4.50 to $4.00 and set a “sell” rating for the company in a report on Monday, December 2nd. Finally, UBS Group lowered their price objective on Riskified from $4.75 to $4.50 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.72.

Riskified Stock Down 2.0 %

Shares of NYSE RSKD traded down $0.10 during mid-day trading on Tuesday, reaching $5.05. 594,708 shares of the company were exchanged, compared to its average volume of 460,294. Riskified has a 52 week low of $4.14 and a 52 week high of $6.64. The company’s 50 day moving average price is $5.15 and its 200 day moving average price is $4.85. The stock has a market capitalization of $899.75 million, a PE ratio of -25.23 and a beta of 1.38.

Riskified declared that its board has initiated a share repurchase program on Wednesday, November 13th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

About Riskified

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.