Genius Sports Limited (NYSE:GENI) Short Interest Up 15.5% in April

Genius Sports Limited (NYSE:GENI) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 6,620,000 shares, an increase of 15.5% from the March 31st total of 5,730,000 shares. Based on an average daily volume of 2,360,000 shares, the short-interest ratio is presently 2.8 days. Currently, 4.2% of the shares of the stock are sold short.

Genius Sports Price Performance

Shares of NYSE GENI traded up $0.01 during midday trading on Monday, reaching $5.21. 1,457,298 shares of the stock were exchanged, compared to its average volume of 2,242,548. The business has a 50-day simple moving average of $5.96 and a two-hundred day simple moving average of $5.88. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -12.95 and a beta of 1.97. Genius Sports has a 12 month low of $3.64 and a 12 month high of $8.45.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) earnings per share. Equities research analysts expect that Genius Sports will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Genius Sports in a report on Thursday, March 7th. Oppenheimer reissued an “outperform” rating and issued a $10.00 price target on shares of Genius Sports in a report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of Genius Sports in a report on Tuesday, April 16th. They issued a “buy” rating and a $7.50 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Wednesday, March 6th. Finally, B. Riley started coverage on shares of Genius Sports in a report on Friday, April 5th. They set a “buy” rating and a $9.00 target price for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports has an average rating of “Buy” and an average price target of $9.25.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in GENI. NewEdge Wealth LLC bought a new stake in Genius Sports in the 4th quarter valued at $62,000. Orion Portfolio Solutions LLC bought a new stake in Genius Sports in the 3rd quarter valued at $58,000. Brown Advisory Inc. acquired a new stake in Genius Sports in the 4th quarter valued at $76,000. Algert Global LLC acquired a new stake in Genius Sports in the 3rd quarter valued at $68,000. Finally, MQS Management LLC acquired a new stake in Genius Sports in the 3rd quarter valued at $88,000. 81.91% of the stock is owned by institutional investors.

Genius Sports Company Profile

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.