Funko, Inc. (NASDAQ:FNKO) Sees Significant Decline in Short Interest

Funko, Inc. (NASDAQ:FNKO) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 5,064,428 shares, a drop of 12.5% from the January 15th total of 5,788,785 shares. Based on an average daily volume of 1,199,220 shares, the days-to-cover ratio is currently 4.2 days. Approximately 9.5% of the company’s shares are short sold. Approximately 9.5% of the company’s shares are short sold. Based on an average daily volume of 1,199,220 shares, the days-to-cover ratio is currently 4.2 days.

Analysts Set New Price Targets

Several analysts have commented on the company. Wall Street Zen upgraded Funko from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Funko in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.75.

Funko Stock Performance

Shares of NASDAQ:FNKO opened at $4.22 on Thursday. The business has a 50-day moving average of $3.63 and a two-hundred day moving average of $3.36. The firm has a market capitalization of $233.75 million, a PE ratio of -3.32 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.66 and a quick ratio of 0.44. Funko has a 12 month low of $2.22 and a 12 month high of $14.15.

Hedge Funds Weigh In On Funko

Hedge funds have recently made changes to their positions in the business. Hosking Partners LLP purchased a new position in Funko in the 3rd quarter worth approximately $4,853,000. Parcion Private Wealth LLC boosted its stake in shares of Funko by 64.8% in the second quarter. Parcion Private Wealth LLC now owns 19,525 shares of the company’s stock valued at $93,000 after purchasing an additional 7,675 shares during the period. American Century Companies Inc. boosted its stake in shares of Funko by 3.7% in the second quarter. American Century Companies Inc. now owns 724,120 shares of the company’s stock valued at $3,447,000 after purchasing an additional 25,776 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in Funko by 33.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 57,713 shares of the company’s stock valued at $275,000 after purchasing an additional 14,555 shares in the last quarter. Finally, CWM LLC increased its stake in Funko by 571.4% during the 2nd quarter. CWM LLC now owns 13,528 shares of the company’s stock worth $64,000 after buying an additional 11,513 shares during the period. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Funko Company Profile

Funko, Inc is a pop culture consumer products company best known for its stylized vinyl figures, apparel, accessories and other licensed collectible goods. The company’s signature product line, Funko Pop!, features bobblehead-style figurines that showcase characters from a wide array of entertainment franchises, including film, television, gaming, sports and music. In addition to vinyl figurines, Funko’s portfolio encompasses plush toys, action figures, stationery, home goods and novelty items, all leveraging licensing agreements with major global brands.

Founded in 1998 by Mike Becker in Washington state, Funko initially focused on creating nostalgic bobbleheads before expanding its product offerings under current leadership.