Liftoff Mobile, Inc. (NASDAQ:LFTO) Sees Significant Growth in Short Interest

Liftoff Mobile, Inc. (NASDAQ:LFTO) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 1,035,642 shares, an increase of ∞ from the May 31st total of 0 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,968,245 shares, the short-interest ratio is currently 0.5 days.

Insider Buying and Selling at Liftoff Mobile

In related news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $23.00 per share, with a total value of $29,999,981.00. Following the completion of the purchase, the director directly owned 25,315,646 shares in the company, valued at $582,259,858. The trade was a 5.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Analyst Ratings Changes

Several research analysts have issued reports on LFTO shares. UBS Group began coverage on shares of Liftoff Mobile in a report on Monday. They set a “buy” rating and a $38.00 price target for the company. Royal Bank Of Canada started coverage on shares of Liftoff Mobile in a research report on Monday. They set an “outperform” rating and a $35.00 price objective for the company. Jefferies Financial Group started coverage on shares of Liftoff Mobile in a research note on Monday. They set a “buy” rating and a $34.00 target price for the company. Wall Street Zen upgraded shares of Liftoff Mobile to a “hold” rating in a report on Saturday, June 6th. Finally, BTIG Research initiated coverage on Liftoff Mobile in a report on Monday. They set a “buy” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Liftoff Mobile has an average rating of “Moderate Buy” and a consensus target price of $35.17.

Liftoff Mobile Stock Performance

Shares of LFTO stock traded down $0.65 during trading hours on Thursday, reaching $24.33. The company had a trading volume of 222,211 shares, compared to its average volume of 1,133,785. Liftoff Mobile has a 12 month low of $23.08 and a 12 month high of $30.10.