Einride (NASDAQ:ENRD) Stock Short Interest Jumps 82.1%

Einride (NASDAQ:ENRD) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 298,924 shares, an increase of 82.1% from the September 30th total of 164,115 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 141,263 shares, the days-to-cover ratio is currently 2.1 days.

Einride Price Performance

ENRD stock opened at $2.08 on Tuesday. The stock has a market cap of $295.77 million, a price-to-earnings ratio of 6.93 and a beta of 0.61. Einride has a 52-week low of $1.84 and a 52-week high of $34.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ENRD. Wall Street Zen cut Einride from a “hold” rating to a “sell” rating in a report on Sunday, October 18th. Weiss Ratings initiated coverage on shares of Einride in a research note on Monday, September 14th. They set a “sell (e-)” rating for the company. Finally, Canaccord Genuity Group began coverage on shares of Einride in a report on Tuesday, September 15th. They set a “buy” rating and a $8.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

Einride Company Profile

Einride is a Swedish freight-technology company that develops electric and autonomous transportation solutions for commercial and industrial customers. Its offerings are designed to help companies plan, manage and decarbonize the movement of goods, combining electric heavy-duty vehicles, autonomous trucking technology and digital logistics services.

The company’s platform includes Einride Saga, a digital freight operating system that supports the planning, monitoring and optimization of transportation operations.