Short Interest in Twitter Inc (NYSE:TWTR) Rises By 11.1%
Twitter Inc (NYSE:TWTR) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 29,420,000 shares, an increase of 11.1% from the August 30th total of 26,480,000 shares. Based on an average daily volume of 12,760,000 shares, the short-interest ratio is currently 2.3 days. Approximately 4.0% of the shares of the company are short sold.
TWTR stock traded down $0.37 on Wednesday, hitting $39.91. 8,408,199 shares of the company’s stock traded hands, compared to its average volume of 14,929,751. Twitter has a 1-year low of $26.26 and a 1-year high of $45.85. The stock has a market cap of $31.20 billion, a price-to-earnings ratio of 72.56, a P/E/G ratio of 0.83 and a beta of 0.59. The stock has a fifty day moving average of $41.97 and a 200-day moving average of $38.77. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.29.
Twitter (NYSE:TWTR) last released its earnings results on Friday, July 26th. The social networking company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Twitter had a net margin of 71.46% and a return on equity of 7.93%. The business had revenue of $841.40 million during the quarter, compared to analyst estimates of $828.07 million. During the same period in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities research analysts anticipate that Twitter will post 2.06 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in TWTR. First Trust Advisors LP lifted its position in shares of Twitter by 23.1% in the 1st quarter. First Trust Advisors LP now owns 8,908,905 shares of the social networking company’s stock valued at $292,925,000 after acquiring an additional 1,673,894 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Twitter in the 1st quarter valued at approximately $2,385,000. KCL Capital L.P. purchased a new stake in shares of Twitter in the 1st quarter valued at approximately $9,042,000. Belpointe Asset Management LLC lifted its position in shares of Twitter by 62.4% in the 1st quarter. Belpointe Asset Management LLC now owns 13,494 shares of the social networking company’s stock valued at $444,000 after acquiring an additional 5,186 shares in the last quarter. Finally, Altfest L J & Co. Inc. purchased a new stake in shares of Twitter in the 1st quarter valued at approximately $370,000. 69.22% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on TWTR shares. Cascend Securities increased their price objective on shares of Twitter from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 6th. Nomura increased their price objective on shares of Twitter from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Twitter from $41.00 to $44.00 and gave the company a “hold” rating in a report on Monday, July 29th. Goldman Sachs Group set a $52.00 price objective on shares of Twitter and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Rosenblatt Securities started coverage on shares of Twitter in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $38.00 price objective for the company. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Twitter currently has an average rating of “Hold” and an average price target of $41.10.
Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.
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