Getaround, Inc. (NYSE:GETR) Sees Significant Increase in Short Interest

Getaround, Inc. (NYSE:GETRGet Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 682,000 shares, an increase of 144.2% from the April 15th total of 279,300 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Getaround

An institutional investor recently bought a new position in Getaround stock. Madrona Venture Group LLC acquired a new position in Getaround, Inc. (NYSE:GETRFree Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 506,342 shares of the company’s stock, valued at approximately $177,000. Getaround comprises about 0.1% of Madrona Venture Group LLC’s holdings, making the stock its 5th largest holding. Institutional investors own 59.64% of the company’s stock.

Getaround Trading Up 6.7 %

Shares of NYSE:GETR opened at $0.22 on Monday. Getaround has a twelve month low of $0.14 and a twelve month high of $0.70. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 13.66. The company’s 50 day moving average is $0.25 and its 200 day moving average is $0.23.

Getaround (NYSE:GETRGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.12). The company had revenue of $17.16 million for the quarter, compared to analyst estimates of $30.76 million. Getaround had a negative return on equity of 908.32% and a negative net margin of 155.92%. Analysts expect that Getaround will post -0.86 EPS for the current fiscal year.

About Getaround

(Get Free Report)

Getaround, Inc operates as an online car rental service company for peer-to-peer car sharing. The company operates Getaround, a digital carsharing marketplace, which is accessed through the Getaround app and derives demand from guests who want access to cars nearby 24/7 for various use cases, such as local and long-distance getaways, running errands, business travel, and driving to earn through rideshare and delivery platforms.

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