Genius Sports Limited (NYSE:GENI) Short Interest Up 26.3% in October

Genius Sports Limited (NYSE:GENI) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 24,430,000 shares, a growth of 26.3% from the October 15th total of 19,340,000 shares. Based on an average trading volume of 2,420,000 shares, the short-interest ratio is currently 10.1 days. Currently, 13.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of 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 valued at $98,000 after buying an additional 5,342 shares in the last quarter. Levin Capital Strategies L.P. increased its position in shares of Genius Sports by 40.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after buying an additional 10,000 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Genius Sports in the third quarter valued at approximately $78,000. Arkadios Wealth Advisors purchased a new stake in shares of Genius Sports in the third quarter valued at approximately $79,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Genius Sports in the third quarter valued at approximately $84,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

Wall Street Analyst Weigh In

GENI has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday. B. Riley increased their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Macquarie increased their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.39.

Genius Sports Trading Down 3.0 %

GENI traded down $0.28 during trading on Friday, hitting $9.11. 4,510,654 shares of the company traded hands, compared to its average volume of 2,394,244. The company has a market cap of $2.09 billion, a PE ratio of -28.97 and a beta of 1.98. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.15. The stock’s 50-day simple moving average is $7.62 and its two-hundred day simple moving average is $6.56.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. Genius Sports’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) EPS. Equities analysts expect that Genius Sports will post -0.2 EPS for the current year.

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.