Lightspeed Commerce Inc. (NYSE:LSPD) Sees Significant Decline in Short Interest

Lightspeed Commerce Inc. (NYSE:LSPD) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,010,000 shares, a drop of 13.3% from the February 13th total of 5,780,000 shares. Based on an average daily volume of 771,000 shares, the short-interest ratio is presently 6.5 days. Currently, 3.6% of the company’s shares are short sold.

Lightspeed Commerce Trading Down 1.8 %

Shares of LSPD traded down $0.19 during mid-day trading on Wednesday, reaching $10.32. The stock had a trading volume of 262,293 shares, compared to its average volume of 871,926. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. Lightspeed Commerce has a 52-week low of $10.20 and a 52-week high of $18.96. The business’s fifty day moving average is $13.30 and its 200 day moving average is $14.88. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -12.89, a P/E/G ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. On average, sell-side analysts predict that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in shares of Lightspeed Commerce during the 3rd quarter worth approximately $2,441,000. PCJ Investment Counsel Ltd. purchased a new stake in Lightspeed Commerce in the 3rd quarter valued at $1,517,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Lightspeed Commerce by 226.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock valued at $6,108,000 after purchasing an additional 256,900 shares during the last quarter. Algert Global LLC purchased a new stake in Lightspeed Commerce in the 3rd quarter valued at $448,000. Finally, Westfield Capital Management Co. LP raised its position in Lightspeed Commerce by 30.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after purchasing an additional 766,688 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LSPD shares. Wells Fargo & Company reduced their price target on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Scotiabank lowered their price target on shares of Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Friday, February 7th. Piper Sandler lowered their price objective on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Barclays decreased their price target on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Bank of America initiated coverage on shares of Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target for the company. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lightspeed Commerce has an average rating of “Moderate Buy” and an average price target of $18.39.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.