Short Interest in BuzzFeed, Inc. (NASDAQ:BZFD) Increases By 24.7%

BuzzFeed, Inc. (NASDAQ:BZFD) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 1,582,619 shares, a growth of 24.7% from the December 15th total of 1,269,096 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 472,360 shares, the days-to-cover ratio is presently 3.4 days. Based on an average daily trading volume, of 472,360 shares, the days-to-cover ratio is presently 3.4 days. Currently, 5.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

BZFD has been the topic of a number of recent analyst reports. Craig Hallum lowered BuzzFeed from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a research note on Friday, November 21st. Wall Street Zen cut shares of BuzzFeed from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BuzzFeed in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BuzzFeed presently has an average rating of “Reduce” and a consensus price target of $1.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of BuzzFeed by 1,615.5% in the 4th quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock valued at $38,000 after buying an additional 13,312 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in BuzzFeed in the 2nd quarter valued at about $33,000. Blair William & Co. IL bought a new position in BuzzFeed during the third quarter worth about $29,000. XTX Topco Ltd bought a new stake in BuzzFeed in the second quarter valued at approximately $37,000. Finally, Panagora Asset Management Inc. bought a new stake in BuzzFeed in the second quarter valued at approximately $77,000. 37.64% of the stock is currently owned by institutional investors.

BuzzFeed Stock Down 5.1%

NASDAQ:BZFD opened at $0.94 on Monday. The stock’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $1.58. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. BuzzFeed has a 12-month low of $0.83 and a 12-month high of $3.02. The firm has a market capitalization of $35.08 million, a P/E ratio of -94,280.00 and a beta of 3.42.

BuzzFeed (NASDAQ:BZFD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.14). BuzzFeed had a net margin of 0.06% and a negative return on equity of 38.20%. The company had revenue of $46.32 million during the quarter, compared to the consensus estimate of $54.65 million.

About BuzzFeed

BuzzFeed, Inc operates as a digital media and technology company specializing in news, entertainment, and social content. The company produces articles, videos and quizzes that target diverse audiences across web, mobile and social platforms. In addition to editorial content, BuzzFeed offers a suite of advertising solutions, including native advertising, branded content and programmatic display, designed to blend seamlessly with its editorial offerings and engage consumers at scale.

Founded in 2006 by Jonah Peretti and John S.