Short Interest in Domo, Inc. (NASDAQ:DOMO) Rises By 59.2%

Domo, Inc. (NASDAQ:DOMO) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 6,419,424 shares, an increase of 59.2% from the July 15th total of 4,033,282 shares. Based on an average trading volume of 4,005,153 shares, the short-interest ratio is currently 1.6 days. Currently, 16.4% of the shares of the stock are sold short.

Domo Price Performance

Shares of DOMO stock opened at $3.74 on Thursday. The stock has a market cap of $168.86 million, a PE ratio of -2.81 and a beta of 1.76. The stock has a 50-day moving average of $3.36 and a 200-day moving average of $3.67. Domo has a one year low of $1.84 and a one year high of $18.49.

Insider Activity at Domo

In related news, EVP Daren Thayne sold 52,365 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total value of $124,628.70. Following the completion of the sale, the executive vice president owned 498,051 shares of the company’s stock, valued at $1,185,361.38. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joshua G. James sold 96,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total transaction of $228,689.44. Following the completion of the transaction, the chief executive officer owned 1,638,873 shares of the company’s stock, valued at $3,900,517.74. This trade represents a 5.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 373,526 shares of company stock valued at $1,144,269 over the last ninety days. Company insiders own 13.25% of the company’s stock.

Institutional Investors Weigh In On Domo

Several large investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Domo during the second quarter worth $42,000. Raymond James Financial Inc. bought a new stake in shares of Domo in the 2nd quarter valued at $122,000. Andina Capital Management LLC bought a new stake in shares of Domo in the 4th quarter valued at $84,000. Oxford Asset Management LLP acquired a new stake in Domo during the 4th quarter worth $88,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Domo during the 4th quarter worth $88,000. Institutional investors own 76.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on DOMO. UBS Group restated a “market underperform” rating on shares of Domo in a research report on Monday. Stephens cut Domo from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $5.00 to $4.00 in a report on Thursday, July 23rd. Cantor Fitzgerald lowered Domo from an “overweight” rating to a “hold” rating and set a $4.84 price objective for the company. in a research report on Thursday, July 23rd. Citigroup reissued a “market underperform” rating on shares of Domo in a report on Monday. Finally, Lake Street Capital upgraded shares of Domo from a “hold” rating to a “buy” rating and cut their target price for the company from $7.00 to $5.00 in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $3.95.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.