23andMe Holding Co. (NASDAQ:ME – Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,030,000 shares, a drop of 95.2% from the September 30th total of 21,650,000 shares. Based on an average trading volume of 185,800 shares, the short-interest ratio is currently 5.5 days. Approximately 6.7% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Separately, TD Cowen downgraded shares of 23andMe from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, August 7th.
Get Our Latest Stock Report on ME
Institutional Investors Weigh In On 23andMe
23andMe Trading Down 3.7 %
Shares of 23andMe stock traded down $0.18 during trading on Friday, reaching $4.67. The company’s stock had a trading volume of 349,563 shares, compared to its average volume of 263,521. The stock has a 50-day moving average price of $6.19 and a two-hundred day moving average price of $8.06. 23andMe has a one year low of $4.60 and a one year high of $20.40. The stock has a market capitalization of $2.29 billion, a P/E ratio of -3.34 and a beta of 1.20.
23andMe (NASDAQ:ME – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($2.80) earnings per share (EPS) for the quarter. 23andMe had a negative net margin of 317.03% and a negative return on equity of 83.22%. The business had revenue of $40.41 million during the quarter, compared to analyst estimates of $50.30 million.
About 23andMe
23andMe Holding Co operates as a consumer genetics testing company. The company operates in two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications.
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