Genius Sports Limited (NYSE:GENI) Short Interest Up 10.1% in July

Genius Sports Limited (NYSE:GENI) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 10,250,000 shares, a growth of 10.1% from the July 15th total of 9,310,000 shares. Based on an average daily volume of 2,330,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 6.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GENI shares. JMP Securities upped their target price on shares of Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 9th. Macquarie cut their price objective on Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. B. Riley increased their price target on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Tuesday, August 6th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.45.

Genius Sports Stock Up 2.7 %

GENI traded up $0.20 during trading on Monday, reaching $7.49. 1,413,660 shares of the company were exchanged, compared to its average volume of 2,250,412. Genius Sports has a 12-month low of $4.62 and a 12-month high of $7.77. The company’s 50-day moving average is $5.97 and its two-hundred day moving average is $5.94. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -18.69 and a beta of 1.95.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The firm had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $94.15 million. Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. Equities analysts forecast that Genius Sports will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently added to or reduced their stakes in GENI. AYAL Capital Advisors Ltd bought a new stake in shares of Genius Sports during the 2nd quarter valued at about $4,635,000. Squarepoint Ops LLC bought a new stake in Genius Sports during the second quarter valued at approximately $1,804,000. Bank of Montreal Can purchased a new position in Genius Sports in the 2nd quarter worth approximately $6,575,000. Hood River Capital Management LLC raised its position in shares of Genius Sports by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after buying an additional 114,490 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in Genius Sports in the second quarter worth $102,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.