Oddity Tech Ltd. (NASDAQ:ODD) Sees Significant Increase in Short Interest

Oddity Tech Ltd. (NASDAQ:ODD) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 3,780,000 shares, an increase of 22.3% from the March 15th total of 3,090,000 shares. Currently, 15.2% of the company’s stock are sold short. Based on an average daily trading volume, of 886,000 shares, the days-to-cover ratio is presently 4.3 days.

Analysts Set New Price Targets

Several brokerages have issued reports on ODD. Morgan Stanley increased their price objective on shares of Oddity Tech from $35.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. JMP Securities reaffirmed a “market outperform” rating and set a $66.00 price target on shares of Oddity Tech in a research note on Thursday, March 7th. Bank of America boosted their price objective on shares of Oddity Tech from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Barclays lowered their target price on Oddity Tech from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Evercore ISI began coverage on Oddity Tech in a research note on Thursday, April 4th. They issued an “outperform” rating and a $57.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.63.

Hedge Funds Weigh In On Oddity Tech

Large investors have recently added to or reduced their stakes in the company. Moody National Bank Trust Division bought a new position in Oddity Tech in the fourth quarter worth about $1,211,000. FMR LLC bought a new position in Oddity Tech during the 3rd quarter worth $47,208,000. Baillie Gifford & Co. acquired a new stake in Oddity Tech in the third quarter worth $157,621,000. Ibex Investors LLC acquired a new stake in Oddity Tech in the third quarter worth $2,855,000. Finally, Blackstone Inc. bought a new stake in Oddity Tech in the third quarter valued at $567,000. 35.88% of the stock is currently owned by institutional investors.

Oddity Tech Stock Performance

Shares of Oddity Tech stock traded down $1.74 during trading on Monday, reaching $32.90. The company had a trading volume of 768,742 shares, compared to its average volume of 865,429. Oddity Tech has a fifty-two week low of $24.12 and a fifty-two week high of $56.00. The firm’s fifty day moving average is $41.85 and its 200-day moving average is $38.42. The company has a market cap of $1.87 billion and a price-to-earnings ratio of 32.26.

Oddity Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $97.25 million for the quarter, compared to analysts’ expectations of $86.38 million. Oddity Tech had a return on equity of 26.22% and a net margin of 11.51%. On average, research analysts anticipate that Oddity Tech will post 1.22 EPS for the current fiscal year.

About Oddity Tech

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products.