Genius Sports Limited (NYSE:GENI) Short Interest Up 7.7% in November

Genius Sports Limited (NYSE:GENI) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 26,470,000 shares, an increase of 7.7% from the November 15th total of 24,580,000 shares. Based on an average daily trading volume, of 2,740,000 shares, the short-interest ratio is currently 9.7 days. Approximately 14.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Genius Sports by 2.9% in the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after buying an additional 230,209 shares during the last quarter. Senvest Management LLC raised its holdings in Genius Sports by 12.2% in the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after acquiring an additional 819,385 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Genius Sports by 10.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after acquiring an additional 691,539 shares during the last quarter. FMR LLC lifted its stake in shares of Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares during the period. Finally, Portolan Capital Management LLC boosted its holdings in shares of Genius Sports by 9.4% during the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock worth $24,860,000 after purchasing an additional 272,545 shares during the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Genius Sports Stock Performance

NYSE GENI traded down $0.06 during trading hours on Tuesday, reaching $9.27. The company’s stock had a trading volume of 1,115,136 shares, compared to its average volume of 2,414,628. The company’s 50-day moving average is $8.39 and its two-hundred day moving average is $7.22. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.33. The stock has a market cap of $2.13 billion, a PE ratio of -28.94 and a beta of 2.12.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Genius Sports will post -0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GENI shares. Macquarie lifted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Citigroup boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. The Goldman Sachs Group raised their price objective on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Oppenheimer upped their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $10.72.

Genius Sports Company Profile

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.