Genius Sports Limited (NYSE:GENI) Sees Significant Increase in Short Interest

Genius Sports Limited (NYSE:GENI) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 17,420,000 shares, an increase of 16.4% from the September 15th total of 14,960,000 shares. Currently, 9.4% of the shares of the company are short sold. Based on an average trading volume of 2,990,000 shares, the short-interest ratio is currently 5.8 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GENI. Macquarie decreased their price target on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. The Goldman Sachs Group upped their price objective on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. B. Riley boosted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a research note on Friday, October 11th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.45.

Institutional Trading of Genius Sports

A number of hedge funds have recently bought and sold shares of the business. AYAL Capital Advisors Ltd bought a new stake in shares of Genius Sports in the 2nd quarter worth approximately $4,635,000. Wellington Management Group LLP raised its stake in shares of Genius Sports by 383.6% in the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after buying an additional 5,772,540 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Genius Sports by 25.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after buying an additional 1,702,602 shares during the period. Rice Hall James & Associates LLC purchased a new position in shares of Genius Sports during the 2nd quarter valued at $5,521,000. Finally, Hood River Capital Management LLC grew its stake 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 worth $11,046,000 after acquiring an additional 114,490 shares during the period. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Stock Performance

NYSE:GENI remained flat at $7.60 during trading hours on Wednesday. The company’s stock had a trading volume of 1,719,811 shares, compared to its average volume of 2,339,580. The firm has a market cap of $1.74 billion, a P/E ratio of -19.62 and a beta of 1.96. The business’s 50 day simple moving average is $7.52 and its 200-day simple moving average is $6.24. Genius Sports has a fifty-two week low of $4.62 and a fifty-two week high of $8.64.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, analysts forecast that Genius Sports will post -0.2 earnings per share for the current fiscal year.

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.