Genius Sports Limited (NYSE:GENI) Short Interest Update

Genius Sports Limited (NYSE:GENI) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 14,640,000 shares, an increase of 29.0% from the August 15th total of 11,350,000 shares. Based on an average daily trading volume, of 2,610,000 shares, the days-to-cover ratio is currently 5.6 days. Approximately 9.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Koss Olinger Consulting LLC acquired a new position in Genius Sports during the 2nd quarter worth $64,000. Vanguard Personalized Indexing Management LLC bought a new position in Genius Sports in the 2nd quarter valued at about $67,000. Brown Advisory Inc. bought a new position in Genius Sports in the 4th quarter valued at about $76,000. Virtu Financial LLC acquired a new position in Genius Sports during the 1st quarter valued at about $94,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Genius Sports by 42.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock worth $98,000 after buying an additional 5,342 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GENI has been the topic of a number of research analyst reports. Macquarie reduced their price objective 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 increased their price target on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Tuesday, August 6th. Citigroup began coverage on Genius Sports in a report on Thursday, June 13th. They set a “buy” rating and a $9.00 target price on the stock. Finally, B. Riley lifted their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports presently has an average rating of “Buy” and a consensus price target of $9.45.

Genius Sports Stock Performance

Shares of Genius Sports stock traded down $0.17 on Monday, reaching $7.55. 2,226,858 shares of the company were exchanged, compared to its average volume of 2,294,034. Genius Sports has a 1-year low of $4.62 and a 1-year high of $8.15. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -19.35 and a beta of 1.96. The company’s 50-day moving average is $6.91 and its two-hundred day moving average is $6.00.

Genius Sports (NYSE:GENI) last issued its 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). Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The company had revenue of $95.50 million during the quarter, compared to analyst estimates of $94.15 million. During the same period in the prior year, the business earned ($0.05) earnings per share. Genius Sports’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts forecast that Genius Sports will post -0.2 earnings per share for the current 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.