Short Interest in NerdWallet, Inc. (NASDAQ:NRDS) Increases By 34.5%

NerdWallet, Inc. (NASDAQ:NRDS) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 4,615,484 shares, a growth of 34.5% from the January 29th total of 3,432,410 shares. Approximately 11.7% of the company’s shares are short sold. Based on an average daily trading volume, of 1,135,255 shares, the days-to-cover ratio is presently 4.1 days. Based on an average daily trading volume, of 1,135,255 shares, the days-to-cover ratio is presently 4.1 days. Approximately 11.7% of the company’s shares are short sold.

NerdWallet Stock Down 0.3%

NRDS traded down $0.03 during trading hours on Wednesday, hitting $11.45. 634,321 shares of the company’s stock were exchanged, compared to its average volume of 1,005,448. The stock has a market cap of $832.56 million, a price-to-earnings ratio of 17.89 and a beta of 1.44. NerdWallet has a 1-year low of $7.55 and a 1-year high of $16.24. The stock’s 50-day moving average is $11.96 and its two-hundred day moving average is $12.12.

NerdWallet (NASDAQ:NRDS) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. NerdWallet had a return on equity of 12.66% and a net margin of 5.82%.The company had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $211.37 million. During the same quarter last year, the company earned $0.51 EPS. NerdWallet’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts anticipate that NerdWallet will post 0.36 EPS for the current year.

NerdWallet declared that its board has authorized a stock repurchase plan on Tuesday, December 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of NerdWallet

A number of large investors have recently added to or reduced their stakes in NRDS. Covestor Ltd acquired a new position in shares of NerdWallet during the 4th quarter worth about $34,000. Tower Research Capital LLC TRC grew its holdings in NerdWallet by 37.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,893 shares of the company’s stock worth $43,000 after purchasing an additional 1,054 shares during the period. Polymer Capital Management US LLC bought a new position in NerdWallet during the third quarter worth about $111,000. Moran Wealth Management LLC acquired a new position in NerdWallet during the fourth quarter worth approximately $148,000. Finally, Swiss Life Asset Management Ltd bought a new stake in NerdWallet in the fourth quarter valued at approximately $150,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

Analyst Upgrades and Downgrades

NRDS has been the topic of a number of research analyst reports. Barclays raised their price target on NerdWallet from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley increased their target price on NerdWallet from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Zacks Research downgraded shares of NerdWallet from a “hold” rating to a “strong sell” rating in a report on Thursday, February 26th. Oppenheimer reduced their price target on shares of NerdWallet from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, KeyCorp increased their price objective on shares of NerdWallet from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.17.

About NerdWallet

NerdWallet (NASDAQ: NRDS) is a personal finance company that offers independent guidance and comparison tools to help consumers make informed financial decisions. Through its website and mobile application, NerdWallet provides a wide range of content, including articles, calculators and reviews covering credit cards, mortgages, personal loans, banking products, investing, insurance and taxes. The platform aggregates partner offers to enable side-by-side comparisons, while editorially maintaining objectivity to support users in identifying the products that best suit their individual needs.

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is headquartered in San Francisco and serves consumers primarily in the United States, with additional localized offerings in Canada and the United Kingdom.