LYFT Inc (NASDAQ:LYFT) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 17,584,773 shares, a growth of 21.9% from the April 15th total of 14,421,098 shares. Currently, 9.4% of the company’s shares are sold short. Based on an average daily volume of 7,437,462 shares, the days-to-cover ratio is currently 2.4 days.

Shares of NASDAQ LYFT opened at $57.10 on Friday. LYFT has a 12-month low of $47.17 and a 12-month high of $88.60.

In other news, Director R. Ann Miura-Ko acquired 1,650 shares of LYFT stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of $72.00 per share, for a total transaction of $118,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Financial Partners Inc. bought a new stake in LYFT during the 1st quarter valued at $27,000. US Bancorp DE bought a new stake in LYFT during the 1st quarter valued at $37,000. Hartford Financial Management Inc. bought a new stake in LYFT during the 1st quarter valued at $39,000. Parkside Financial Bank & Trust acquired a new stake in shares of LYFT in the 1st quarter worth $48,000. Finally, SEI Investments Co acquired a new stake in shares of LYFT in the 1st quarter worth $75,000. 18.62% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on LYFT shares. DA Davidson started coverage on LYFT in a report on Tuesday, March 19th. They set a “buy” rating and a $75.00 price objective on the stock. Northcoast Research started coverage on LYFT in a report on Wednesday, March 27th. They set a “neutral” rating on the stock. Wedbush started coverage on LYFT in a report on Wednesday, March 27th. They set a “neutral” rating on the stock. Consumer Edge started coverage on LYFT in a report on Monday, April 1st. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, Guggenheim started coverage on LYFT in a report on Monday, April 1st. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. LYFT currently has a consensus rating of “Buy” and a consensus price target of $71.51.

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LYFT Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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