Angi Inc. (NASDAQ:ANGI) Short Interest Down 89.5% in March

Angi Inc. (NASDAQ:ANGI) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,290,000 shares, a decline of 89.5% from the February 28th total of 12,280,000 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 136,800 shares, the short-interest ratio is currently 9.4 days.

Hedge Funds Weigh In On Angi

Several hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in Angi during the 4th quarter valued at $74,000. Two Sigma Advisers LP increased its position in Angi by 40.1% during the 4th quarter. Two Sigma Advisers LP now owns 724,518 shares of the technology company’s stock valued at $1,203,000 after purchasing an additional 207,300 shares during the period. Two Sigma Investments LP raised its holdings in shares of Angi by 27.7% in the 4th quarter. Two Sigma Investments LP now owns 732,077 shares of the technology company’s stock valued at $1,215,000 after purchasing an additional 158,662 shares in the last quarter. State of Wyoming purchased a new stake in shares of Angi in the 4th quarter worth approximately $69,000. Finally, Graham Capital Management L.P. bought a new position in shares of Angi during the fourth quarter valued at approximately $46,000. 12.84% of the stock is currently owned by institutional investors.

Angi Stock Performance

NASDAQ:ANGI traded up $0.17 during mid-day trading on Wednesday, hitting $16.43. 326,072 shares of the company traded hands, compared to its average volume of 93,738. Angi has a one year low of $14.90 and a one year high of $29.15. The company has a quick ratio of 2.05, a current ratio of 2.14 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 205.40 and a beta of 1.91. The stock’s fifty day moving average price is $2.32 and its 200-day moving average price is $2.22.

Wall Street Analysts Forecast Growth

ANGI has been the topic of a number of recent research reports. Citigroup upped their price target on shares of Angi from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JMP Securities cut their price objective on shares of Angi from $30.00 to $27.50 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Angi in a research report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Angi from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.50.

About Angi

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.