Liftoff Mobile, Inc. (NASDAQ:LFTO) Short Interest Up 49.3% in August

Liftoff Mobile, Inc. (NASDAQ:LFTO) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 1,430,843 shares, an increase of 49.3% from the July 30th total of 958,575 shares. Based on an average daily volume of 1,195,461 shares, the short-interest ratio is presently 1.2 days. Approximately 0.8% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wolfe Research assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They issued a “peer perform” rating for the company. Weiss Ratings started coverage on Liftoff Mobile in a report on Thursday, June 4th. They issued a “sell (e)” rating on the stock. BTIG Research reissued a “buy” rating and issued a $35.00 price objective on shares of Liftoff Mobile in a research note on Thursday, August 13th. UBS Group boosted their price objective on Liftoff Mobile from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada initiated coverage on Liftoff Mobile in a research report on Monday, June 29th. They set an “outperform” rating and a $35.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.69.

Liftoff Mobile Price Performance

Shares of LFTO traded up $0.01 on Tuesday, reaching $18.59. The company’s stock had a trading volume of 310,651 shares, compared to its average volume of 863,152. Liftoff Mobile has a twelve month low of $17.90 and a twelve month high of $30.10. The company has a fifty day moving average of $22.72.

Liftoff Mobile (NASDAQ:LFTO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.49. The company had revenue of $219.51 million for the quarter. As a group, analysts expect that Liftoff Mobile will post 0.7 EPS for the current year.

Insider Buying and Selling at Liftoff Mobile

In related news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $23.00 per share, for a total transaction of $29,999,981.00. Following the completion of the acquisition, the director owned 25,315,646 shares of the company’s stock, valued at approximately $582,259,858. This trade represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Liftoff Mobile

Several institutional investors have recently bought and sold shares of LFTO. WT Asset Management Ltd purchased a new stake in Liftoff Mobile in the 2nd quarter valued at $480,000. Legal & General Group Plc bought a new position in Liftoff Mobile during the 2nd quarter valued at $486,000. Bank of America Corp DE purchased a new position in Liftoff Mobile during the 2nd quarter worth $1,282,000. Readystate Asset Management LP purchased a new position in Liftoff Mobile during the 2nd quarter worth $1,677,000. Finally, Wellington Management Group LLP bought a new stake in shares of Liftoff Mobile in the 2nd quarter worth $4,433,000.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.