MercadoLibre, Inc. (NASDAQ:MELI) Sees Large Increase in Short Interest

MercadoLibre, Inc. (NASDAQ:MELI) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 891,079 shares, an increase of 14.8% from the February 12th total of 776,095 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 639,650 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 639,650 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. Barclays dropped their target price on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Wedbush decreased their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,725.33.

MercadoLibre Trading Down 0.2%

NASDAQ MELI opened at $1,728.14 on Wednesday. MercadoLibre has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $1,978.71 and its 200-day moving average price is $2,104.96. The stock has a market cap of $87.62 billion, a P/E ratio of 43.86, a P/E/G ratio of 0.93 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.MercadoLibre’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.61 EPS. As a group, equities analysts forecast that MercadoLibre will post 43.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of MercadoLibre during the third quarter valued at $35,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre in the 4th quarter worth about $30,000. Institutional investors own 87.62% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.