Domo, Inc. (NASDAQ:DOMO) Short Interest Down 5.9% in December

Domo, Inc. (NASDAQ:DOMO) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 1,430,000 shares, a decline of 5.9% from the December 15th total of 1,520,000 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average trading volume of 315,100 shares, the days-to-cover ratio is presently 4.5 days.

Domo Stock Performance

Shares of NASDAQ DOMO traded up $0.14 during trading on Friday, reaching $7.26. 262,354 shares of the company traded hands, compared to its average volume of 301,656. The firm’s fifty day simple moving average is $7.98 and its 200 day simple moving average is $7.79. Domo has a 12-month low of $6.11 and a 12-month high of $12.23.

Domo (NASDAQ:DOMO) last announced its quarterly earnings results on Thursday, December 5th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.27). The company had revenue of $79.68 million during the quarter, compared to the consensus estimate of $77.56 million. Domo’s revenue was down .1% compared to the same quarter last year. On average, equities analysts forecast that Domo will post -2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Lake Street Capital increased their price objective on Domo from $8.00 to $9.50 and gave the company a “hold” rating in a report on Friday, December 6th. TD Cowen upped their target price on Domo from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, November 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $16.00 price target on shares of Domo in a research report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.10.

Hedge Funds Weigh In On Domo

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Domo during the third quarter valued at $88,000. XTX Topco Ltd acquired a new stake in shares of Domo during the 3rd quarter valued at about $97,000. Quest Partners LLC increased its stake in shares of Domo by 291.9% in the 3rd quarter. Quest Partners LLC now owns 13,700 shares of the company’s stock valued at $103,000 after purchasing an additional 10,204 shares in the last quarter. Olympiad Research LP acquired a new position in Domo in the 3rd quarter worth about $161,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Domo during the third quarter worth approximately $181,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

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.