Short Interest in Domo, Inc. (NASDAQ:DOMO) Decreases By 11.5%

Domo, Inc. (NASDAQ:DOMO) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 2,160,000 shares, a drop of 11.5% from the July 15th total of 2,440,000 shares. Based on an average daily trading volume, of 406,800 shares, the days-to-cover ratio is currently 5.3 days. Currently, 7.0% of the shares of the stock are short sold.

Domo Stock Up 1.0 %

Shares of DOMO traded up $0.08 during midday trading on Monday, reaching $8.26. 315,775 shares of the stock were exchanged, compared to its average volume of 398,078. Domo has a 12-month low of $6.11 and a 12-month high of $17.38. The firm has a 50 day simple moving average of $7.55 and a 200-day simple moving average of $8.45. The company has a market cap of $315.33 million, a price-to-earnings ratio of -3.93 and a beta of 2.45.

Domo (NASDAQ:DOMO) last posted its quarterly earnings results on Thursday, May 23rd. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.07). The firm had revenue of $80.10 million during the quarter, compared to the consensus estimate of $79.57 million. Research analysts expect that Domo will post -2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOMO. JMP Securities reissued a “market outperform” rating and issued a $16.00 price objective on shares of Domo in a research note on Monday, July 1st. TD Cowen reduced their price objective on Domo from $11.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, May 21st. Morgan Stanley reduced their price objective on Domo from $13.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Finally, Lake Street Capital downgraded Domo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $8.00 in a research note on Friday, May 24th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.20.

Insider Activity at Domo

In related news, Director Daniel David Daniel III purchased 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was acquired at an average price of $6.69 per share, for a total transaction of $1,003,500.00. Following the transaction, the director now directly owns 411,400 shares of the company’s stock, valued at approximately $2,752,266. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Daren Thayne sold 7,095 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $6.85, for a total value of $48,600.75. Following the completion of the transaction, the executive vice president now owns 406,663 shares in the company, valued at approximately $2,785,641.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel David Daniel III purchased 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average price of $6.69 per share, with a total value of $1,003,500.00. Following the transaction, the director now directly owns 411,400 shares in the company, valued at $2,752,266. The disclosure for this purchase can be found here. Company insiders own 14.04% of the company’s stock.

Institutional Investors Weigh In On Domo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Domo by 161.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock valued at $27,000 after acquiring an additional 1,622 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Domo in the 1st quarter valued at approximately $43,000. EntryPoint Capital LLC bought a new position in shares of Domo in the 1st quarter valued at approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Domo by 58.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,967 shares of the company’s stock valued at $61,000 after acquiring an additional 2,212 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Domo by 51.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,208 shares of the company’s stock valued at $48,000 after acquiring an additional 2,100 shares in the last quarter. 76.64% of the stock is owned by hedge funds and other institutional investors.

Domo Company Profile

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.