NVIDIA Corporation (NASDAQ:NVDA) Sees Significant Drop in Short Interest

NVIDIA Corporation (NASDAQ:NVDA) was the recipient of a significant drop in short interest in September. As of September 29th, there was short interest totalling 14,755,916 shares, a drop of 17.5% from the September 15th total of 17,880,570 shares. Based on an average trading volume of 21,567,790 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.6% of the company’s stock are short sold.

In related news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark L. Perry sold 16,281 shares of NVIDIA Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $162.24, for a total value of $2,641,429.44. Following the sale, the director now directly owns 48,069 shares in the company, valued at approximately $7,798,714.56. The disclosure for this sale can be found here. Insiders sold a total of 452,784 shares of company stock valued at $81,437,724 over the last quarter. 5.82% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. boosted its position in NVIDIA Corporation by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after buying an additional 6 shares in the last quarter. Family Firm Inc. boosted its position in NVIDIA Corporation by 0.7% in the second quarter. Family Firm Inc. now owns 1,968 shares of the computer hardware maker’s stock valued at $284,000 after buying an additional 13 shares in the last quarter. Appleton Partners Inc. MA boosted its position in NVIDIA Corporation by 1.2% in the second quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock valued at $372,000 after buying an additional 30 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its position in NVIDIA Corporation by 0.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 7,371 shares of the computer hardware maker’s stock valued at $1,212,000 after buying an additional 30 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its position in NVIDIA Corporation by 1.8% in the second quarter. Pinebridge Investments L.P. now owns 1,872 shares of the computer hardware maker’s stock valued at $271,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

A number of equities analysts recently issued reports on NVDA shares. Vetr upgraded NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $176.95 price objective for the company in a report on Wednesday, September 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA Corporation in a report on Thursday, July 13th. Needham & Company LLC reiterated a “buy” rating on shares of NVIDIA Corporation in a report on Friday, August 11th. Citigroup Inc. reiterated a “buy” rating and issued a $210.00 target price (up from $185.00) on shares of NVIDIA Corporation in a report on Friday, September 29th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating on shares of NVIDIA Corporation in a research note on Monday, July 3rd. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $161.85.

NVIDIA Corporation (NASDAQ:NVDA) opened at 195.69 on Friday. The firm has a 50-day moving average of $182.70 and a 200-day moving average of $153.95. The company has a market cap of $117.41 billion, a PE ratio of 56.28 and a beta of 1.28. NVIDIA Corporation has a one year low of $66.58 and a one year high of $199.59.

NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.32. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm’s revenue was up 56.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. On average, analysts predict that NVIDIA Corporation will post $3.63 EPS for the current year.

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NVIDIA Corporation Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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