On Deck Capital Inc (NYSE:ONDK) Short Interest Down 11.6% in July

On Deck Capital Inc (NYSE:ONDK) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 3,190,000 shares, a decrease of 11.6% from the June 30th total of 3,610,000 shares. Based on an average daily trading volume, of 2,150,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 6.1% of the shares of the stock are short sold.

Shares of ONDK opened at $1.46 on Friday. The company has a quick ratio of 18.52, a current ratio of 18.52 and a debt-to-equity ratio of 4.89. The stock’s fifty day simple moving average is $0.85 and its 200 day simple moving average is $1.85. On Deck Capital has a twelve month low of $0.54 and a twelve month high of $4.71.

On Deck Capital (NYSE:ONDK) last issued its earnings results on Thursday, April 30th. The credit services provider reported ($0.92) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.96). The firm had revenue of $110.56 million during the quarter, compared to analysts’ expectations of $112.49 million. On Deck Capital had a negative return on equity of 14.46% and a negative net margin of 9.34%. On average, sell-side analysts predict that On Deck Capital will post -2.17 earnings per share for the current year.

A number of equities research analysts have commented on the company. UBS Group lowered their target price on On Deck Capital from $4.50 to $1.30 and set a “neutral” rating on the stock in a report on Monday, May 4th. BTIG Research lowered On Deck Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 1st. Morgan Stanley reduced their price target on On Deck Capital from $4.25 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Zacks Investment Research lowered On Deck Capital from a “hold” rating to a “sell” rating in a research note on Friday, May 15th. Finally, Janney Montgomery Scott lowered On Deck Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. On Deck Capital currently has a consensus rating of “Hold” and a consensus price target of $1.97.

Several institutional investors and hedge funds have recently modified their holdings of the stock. EJF Capital LLC raised its position in shares of On Deck Capital by 34.8% in the 1st quarter. EJF Capital LLC now owns 3,829,820 shares of the credit services provider’s stock worth $5,898,000 after buying an additional 989,706 shares during the period. Voce Capital Management LLC raised its position in shares of On Deck Capital by 56.0% in the 1st quarter. Voce Capital Management LLC now owns 1,342,340 shares of the credit services provider’s stock worth $2,067,000 after buying an additional 482,102 shares during the period. Geode Capital Management LLC raised its position in shares of On Deck Capital by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 877,762 shares of the credit services provider’s stock worth $3,633,000 after buying an additional 8,883 shares during the period. Jeereddi Investments LP raised its position in shares of On Deck Capital by 116.6% in the 1st quarter. Jeereddi Investments LP now owns 581,369 shares of the credit services provider’s stock worth $895,000 after buying an additional 313,000 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of On Deck Capital by 1,122.5% in the 1st quarter. JPMorgan Chase & Co. now owns 454,316 shares of the credit services provider’s stock worth $700,000 after buying an additional 417,152 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

About On Deck Capital

On Deck Capital, Inc operates an online platform for small business lending in the United States, Canada, and Australia. It offers term loans and lines of credit. The company also provides technology and services platform that facilitates online lending to small business customers for banks. It distributes its products through direct marketing channel, strategic partners, and funding advisors.

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