Short Interest in Genius Sports Limited (NYSE:GENI) Increases By 26.3%

Genius Sports Limited (NYSE:GENI) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 24,430,000 shares, an increase of 26.3% from the October 15th total of 19,340,000 shares. Currently, 13.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,420,000 shares, the short-interest ratio is currently 10.1 days.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently bought and sold shares of GENI. Koss Olinger Consulting LLC acquired a new position in shares of Genius Sports in the 2nd quarter valued at $64,000. Vanguard Personalized Indexing Management LLC bought a new position in Genius Sports during the second quarter worth about $67,000. Sound Income Strategies LLC acquired a new position in Genius Sports in the third quarter valued at about $78,000. Arkadios Wealth Advisors bought a new stake in shares of Genius Sports in the third quarter worth about $79,000. Finally, Captrust Financial Advisors bought a new stake in shares of Genius Sports in the third quarter worth about $84,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Price Performance

GENI stock opened at $9.11 on Friday. Genius Sports has a twelve month low of $4.91 and a twelve month high of $10.15. The business’s fifty day moving average is $7.66 and its 200-day moving average is $6.60.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, equities research analysts forecast that Genius Sports will post -0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GENI. B. Riley raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday. Macquarie upped their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research note on Tuesday, November 12th. Finally, Oppenheimer upped their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports currently has an average rating of “Buy” and a consensus price target of $10.39.

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.