Miami International Holdings, Inc. (NYSE:MIAX) Sees Large Growth in Short Interest

Miami International Holdings, Inc. (NYSE:MIAX) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 2,007,443 shares, an increase of 50.5% from the November 30th total of 1,334,115 shares. Based on an average daily volume of 916,155 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.5% of the shares of the company are short sold. Approximately 2.5% of the shares of the company are short sold. Based on an average daily volume of 916,155 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MIAX shares. Raymond James Financial began coverage on Miami International in a research note on Monday, September 8th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods upped their price objective on Miami International from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Wall Street Zen raised shares of Miami International from a “hold” rating to a “buy” rating in a report on Saturday. William Blair began coverage on shares of Miami International in a report on Monday, September 8th. They set an “outperform” rating on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $55.00 target price on shares of Miami International in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Miami International currently has an average rating of “Moderate Buy” and an average price target of $47.20.

Miami International Stock Down 2.8%

Shares of NYSE MIAX traded down $1.29 during trading on Wednesday, hitting $44.40. The company had a trading volume of 223,138 shares, compared to its average volume of 798,904. The firm’s fifty day simple moving average is $45.28. Miami International has a fifty-two week low of $28.63 and a fifty-two week high of $51.38.

Miami International (NYSE:MIAX) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. During the same quarter in the previous year, the business earned $0.11 earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Monashee Investment Management LLC purchased a new position in Miami International during the third quarter worth approximately $6,039,000. TD Asset Management Inc purchased a new position in shares of Miami International during the 3rd quarter worth $2,555,000. JPMorgan Chase & Co. purchased a new stake in shares of Miami International in the third quarter valued at about $32,679,000. Pekin Hardy Strauss Inc. purchased a new position in Miami International during the third quarter worth about $1,033,000. Finally, Readystate Asset Management LP acquired a new position in Miami International in the 3rd quarter valued at about $503,000.

About Miami International

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.