Short Interest in Genius Sports Limited (NYSE:GENI) Increases By 16.1%

Genius Sports Limited (NYSE:GENIGet Free Report) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 7,720,000 shares, an increase of 16.1% from the May 15th total of 6,650,000 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is presently 3.8 days.

Genius Sports Trading Up 1.8 %

Shares of GENI opened at $5.27 on Tuesday. Genius Sports has a 12-month low of $4.62 and a 12-month high of $8.45. The firm has a 50-day moving average price of $5.29 and a 200 day moving average price of $5.91. The firm has a market capitalization of $1.21 billion, a P/E ratio of -13.50 and a beta of 1.96.

Genius Sports (NYSE:GENIGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The firm had revenue of $119.72 million during the quarter, compared to analysts’ expectations of $116.53 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. Genius Sports’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts predict that Genius Sports will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on GENI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $8.00 target price on shares of Genius Sports in a research note on Monday, February 26th. Oppenheimer reissued an “outperform” rating and set a $10.00 target price on shares of Genius Sports in a report on Thursday, April 4th. Citigroup began coverage on Genius Sports in a research report on Thursday, June 13th. They issued a “buy” rating and a $9.00 target price on the stock. JMP Securities boosted their price target on Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Thursday, May 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.33.

View Our Latest Stock Analysis on GENI

Institutional Trading of Genius Sports

Several hedge funds have recently made changes to their positions in GENI. NewEdge Wealth LLC purchased a new stake in Genius Sports during the 4th quarter worth approximately $62,000. Algert Global LLC purchased a new stake in shares of Genius Sports during the third quarter worth $68,000. Brown Advisory Inc. acquired a new stake in shares of Genius Sports in the fourth quarter valued at $76,000. MQS Management LLC purchased a new position in Genius Sports in the third quarter valued at $88,000. Finally, Virtu Financial LLC acquired a new position in Genius Sports during the 1st quarter worth $94,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

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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.

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