Twitter Inc. (TWTR) Sees Large Increase in Short Interest
Twitter Inc. (NYSE:TWTR) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 67,655,946 shares, an increase of 24.5% from the October 14th total of 54,345,952 shares. Based on an average daily volume of 32,500,261 shares, the short-interest ratio is currently 2.1 days. Approximately 11.4% of the company’s stock are sold short.
Several equities research analysts have recently issued reports on the stock. Loop Capital reaffirmed a “hold” rating and set a $16.00 price objective on shares of Twitter in a research report on Friday. Wedbush reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Twitter in a research report on Friday. Vetr raised shares of Twitter from a “buy” rating to a “strong-buy” rating and set a $21.05 price objective for the company in a research report on Thursday. Mizuho reissued an “underperform” rating on shares of Twitter in a research report on Thursday. Finally, Zacks Investment Research cut shares of Twitter from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. Nine research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Twitter currently has a consensus rating of “Hold” and a consensus price target of $18.43.
In other news, insider Robert Kaiden sold 3,604 shares of Twitter stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $20.06, for a total transaction of $72,296.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Messinger sold 52,187 shares of Twitter stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $17.58, for a total transaction of $917,447.46. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Integrated Investment Consultants LLC raised its position in shares of Twitter by 85.9% in the second quarter. Integrated Investment Consultants LLC now owns 6,707 shares of the social networking company’s stock worth $113,000 after buying an additional 3,099 shares during the period. Advisory Services Network LLC raised its position in shares of Twitter by 24.1% in the third quarter. Advisory Services Network LLC now owns 4,890 shares of the social networking company’s stock worth $113,000 after buying an additional 950 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of Twitter by 204.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 7,618 shares of the social networking company’s stock worth $129,000 after buying an additional 5,115 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Twitter during the second quarter worth about $152,000. Finally, Hartford Investment Management Co. raised its position in shares of Twitter by 1.9% in the second quarter. Hartford Investment Management Co. now owns 10,306 shares of the social networking company’s stock worth $174,000 after buying an additional 192 shares during the period. 41.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Twitter (NYSE:TWTR) opened at 18.55 on Monday. The firm’s 50 day moving average is $19.27 and its 200-day moving average is $17.51. Twitter has a 52-week low of $13.73 and a 52-week high of $26.70. The company’s market capitalization is $13.14 billion.
Twitter (NYSE:TWTR) last announced its earnings results on Thursday, October 27th. The social networking company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.28. Twitter had a negative net margin of 15.06% and a negative return on equity of 5.18%. The business had revenue of $616 million for the quarter, compared to analyst estimates of $606.40 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Twitter’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Twitter will post $0.52 earnings per share for the current fiscal year.
Twitter, Inc (Twitter) offers products and services for users, advertisers, developers and platform and data partners. The Company’s service is live-live commentary, live connections, live conversations. Its products and services for users include Twitter, and Periscope and Vine. Its Twitter is a platform for public self-expression and conversation in real time.
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