Dave Inc. (NASDAQ:DAVE) Sees Significant Increase in Short Interest

Dave Inc. (NASDAQ:DAVE) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 1,104,579 shares, an increase of 26.7% from the December 15th total of 871,992 shares. Based on an average trading volume of 382,743 shares, the short-interest ratio is currently 2.9 days. Approximately 11.4% of the company’s stock are sold short. Approximately 11.4% of the company’s stock are sold short. Based on an average trading volume of 382,743 shares, the short-interest ratio is currently 2.9 days.

Dave Price Performance

Shares of NASDAQ:DAVE opened at $188.42 on Tuesday. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.54 billion, a PE ratio of 18.62 and a beta of 3.90. Dave has a twelve month low of $65.46 and a twelve month high of $286.45. The company has a 50-day moving average price of $211.03 and a two-hundred day moving average price of $214.92.

Dave (NASDAQ:DAVE) last posted its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $1.95. The company had revenue of $150.73 million for the quarter, compared to analyst estimates of $153.09 million. Dave had a net margin of 29.85% and a return on equity of 65.86%. Equities analysts forecast that Dave will post 1.07 EPS for the current year.

Insiders Place Their Bets

In other Dave news, Director Imran Khan sold 33,270 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $199.34, for a total value of $6,632,041.80. Following the completion of the sale, the director directly owned 2,110 shares of the company’s stock, valued at approximately $420,607.40. This represents a 94.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jason Wilk sold 7,393 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $203.77, for a total transaction of $1,506,471.61. Following the completion of the sale, the chief executive officer owned 210,461 shares of the company’s stock, valued at approximately $42,885,637.97. This trade represents a 3.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,164 shares of company stock worth $20,700,863 over the last ninety days. Insiders own 28.48% of the company’s stock.

Hedge Funds Weigh In On Dave

Several hedge funds have recently made changes to their positions in DAVE. SBI Securities Co. Ltd. lifted its holdings in Dave by 3.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,953 shares of the fintech company’s stock worth $524,000 after purchasing an additional 60 shares in the last quarter. Brevan Howard Capital Management LP increased its position in shares of Dave by 1.6% during the third quarter. Brevan Howard Capital Management LP now owns 3,846 shares of the fintech company’s stock valued at $767,000 after buying an additional 62 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Dave by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,986 shares of the fintech company’s stock worth $2,412,000 after buying an additional 65 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Dave by 106.8% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the fintech company’s stock valued at $34,000 after acquiring an additional 79 shares during the period. Finally, Arizona State Retirement System grew its stake in Dave by 3.3% during the third quarter. Arizona State Retirement System now owns 2,787 shares of the fintech company’s stock valued at $556,000 after acquiring an additional 88 shares in the last quarter. 18.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $297.00 price objective (up previously from $277.00) on shares of Dave in a research report on Wednesday, November 5th. JMP Securities set a $310.00 target price on Dave in a research note on Wednesday, November 5th. Barrington Research restated an “outperform” rating and set a $290.00 price target on shares of Dave in a research report on Monday, November 3rd. Citizens Jmp raised their price objective on shares of Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. set a $300.00 target price on shares of Dave in a research note on Friday, September 26th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.25.

About Dave

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.