NVIDIA Corporation (NVDA) Short Interest Update
NVIDIA Corporation (NASDAQ:NVDA) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 17,796,113 shares, a growth of 29.3% from the November 15th total of 13,762,876 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 13,646,555 shares, the days-to-cover ratio is presently 1.3 days.
NVIDIA (NASDAQ NVDA) opened at $191.56 on Monday. NVIDIA has a 52-week low of $95.17 and a 52-week high of $218.67. The stock has a market capitalization of $116,085.36, a P/E ratio of 47.18, a PEG ratio of 4.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.39. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The business’s revenue was up 31.5% compared to the same quarter last year. research analysts expect that NVIDIA will post 4.19 earnings per share for the current fiscal year.
In other news, insider Michael Byron sold 9,538 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $179.80, for a total value of $1,714,932.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 80,250 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $187.23, for a total value of $15,025,207.50. Following the completion of the transaction, the director now owns 37,382 shares of the company’s stock, valued at $6,999,031.86. The disclosure for this sale can be found here. Insiders sold a total of 265,346 shares of company stock valued at $49,978,812 over the last quarter. Company insiders own 5.82% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its position in shares of NVIDIA by 11.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,279,083 shares of the computer hardware maker’s stock worth $228,662,000 after acquiring an additional 132,924 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of NVIDIA by 17.0% in the 3rd quarter. TrimTabs Asset Management LLC now owns 2,227 shares of the computer hardware maker’s stock worth $398,000 after acquiring an additional 324 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of NVIDIA in the 3rd quarter worth approximately $235,000. Optimum Investment Advisors bought a new position in shares of NVIDIA in the 3rd quarter worth approximately $322,000. Finally, GSA Capital Partners LLP bought a new position in shares of NVIDIA in the 3rd quarter worth approximately $1,407,000. 63.51% of the stock is owned by hedge funds and other institutional investors.
NVDA has been the subject of a number of recent research reports. Raymond James Financial boosted their target price on NVIDIA and gave the company an “outperform” rating in a research note on Friday, November 10th. Bank of America set a $210.00 target price on NVIDIA and gave the company a “buy” rating in a research note on Thursday, October 12th. Canaccord Genuity reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Friday, September 8th. Royal Bank of Canada boosted their target price on NVIDIA from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Mizuho reissued a “buy” rating and issued a $225.00 target price on shares of NVIDIA in a research note on Tuesday, November 28th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $187.38.
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NVIDIA Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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