Short Interest in 23andMe Holding Co. (NASDAQ:ME) Drops By 23.4%

23andMe Holding Co. (NASDAQ:ME) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 28,090,000 shares, a decline of 23.4% from the May 31st total of 36,690,000 shares. Based on an average daily volume of 5,250,000 shares, the short-interest ratio is presently 5.4 days. Approximately 9.9% of the shares of the company are short sold.

23andMe Stock Performance

NASDAQ ME traded down $0.03 during midday trading on Friday, hitting $0.39. The company had a trading volume of 38,544,121 shares, compared to its average volume of 4,697,669. The firm has a fifty day simple moving average of $0.48 and a two-hundred day simple moving average of $0.60. 23andMe has a fifty-two week low of $0.35 and a fifty-two week high of $2.03.

23andMe (NASDAQ:ME) last released its earnings results on Thursday, May 23rd. The company reported ($0.12) earnings per share for the quarter. 23andMe had a negative return on equity of 66.15% and a negative net margin of 303.55%. The firm had revenue of $64.03 million for the quarter, compared to analyst estimates of $61.90 million.

Institutional Trading of 23andMe

Several institutional investors have recently modified their holdings of ME. China Universal Asset Management Co. Ltd. increased its stake in 23andMe by 68.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 60,653 shares of the company’s stock valued at $32,000 after acquiring an additional 24,604 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 23andMe by 58.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,167 shares of the company’s stock valued at $56,000 after purchasing an additional 22,460 shares in the last quarter. Raymond James & Associates grew its stake in shares of 23andMe by 82.4% in the 4th quarter. Raymond James & Associates now owns 65,973 shares of the company’s stock valued at $60,000 after purchasing an additional 29,800 shares during the period. BKA Wealth Consulting Inc. bought a new stake in shares of 23andMe in the 4th quarter valued at approximately $126,000. Finally, Mirador Capital Partners LP lifted its position in shares of 23andMe by 11.2% during the 1st quarter. Mirador Capital Partners LP now owns 340,946 shares of the company’s stock worth $181,000 after buying an additional 34,321 shares during the period. Institutional investors and hedge funds own 36.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price objective on 23andMe from $0.85 to $0.47 and set a “neutral” rating for the company in a research report on Tuesday, April 16th.

23andMe Company Profile

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.