Genius Sports Limited (NYSE:GENI) Short Interest Up 17.7% in June

Genius Sports Limited (NYSE:GENI) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 9,090,000 shares, a growth of 17.7% from the May 31st total of 7,720,000 shares. Based on an average trading volume of 1,820,000 shares, the days-to-cover ratio is presently 5.0 days. Currently, 5.9% of the shares of the company are sold short.

Genius Sports Trading Down 1.8 %

Shares of Genius Sports stock opened at $5.45 on Friday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -13.97 and a beta of 1.96. The firm’s 50-day moving average price is $5.28 and its two-hundred day moving average price is $5.90. Genius Sports has a 1-year low of $4.62 and a 1-year high of $8.45.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $119.72 million for the quarter, compared to analyst estimates of $116.53 million. Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) earnings per share. As a group, equities research analysts predict that Genius Sports will post -0.17 EPS for the current year.

Analyst Ratings Changes

GENI has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $10.00 target price on shares of Genius Sports in a research note on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research note on Thursday, May 9th. The Goldman Sachs Group assumed coverage on Genius Sports in a research note on Tuesday, April 16th. They set a “buy” rating and a $7.50 price target on the stock. JMP Securities raised their price objective on Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. Finally, Citigroup initiated coverage on Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports has a consensus rating of “Buy” and an average target price of $9.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GENI. NewEdge Wealth LLC bought a new position in shares of Genius Sports in the fourth quarter worth about $62,000. Brown Advisory Inc. acquired a new position in Genius Sports during the 4th quarter worth $76,000. Algert Global LLC bought a new position in Genius Sports in the 3rd quarter valued at $68,000. Virtu Financial LLC acquired a new stake in shares of Genius Sports in the 1st quarter valued at $94,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Genius Sports during the fourth quarter worth $105,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

About Genius Sports

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.