Genius Sports Limited (NYSE:GENI) Short Interest Up 15.5% in April

Genius Sports Limited (NYSE:GENI) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 6,620,000 shares, an increase of 15.5% from the March 31st total of 5,730,000 shares. Based on an average daily volume of 2,360,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 4.2% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of research analysts have commented on the company. B. Riley assumed coverage on Genius Sports in a research note on Friday, April 5th. They set a “buy” rating and a $9.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Wednesday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of Genius Sports in a research note on Monday, February 26th. Oppenheimer reiterated an “outperform” rating and issued a $10.00 price target on shares of Genius Sports in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group assumed coverage on Genius Sports in a research note on Tuesday, April 16th. They issued a “buy” rating and a $7.50 price target on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports currently has an average rating of “Buy” and a consensus price target of $9.25.

Hedge Funds Weigh In On Genius Sports

Several institutional investors have recently made changes to their positions in GENI. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Genius Sports by 25.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after buying an additional 1,702,602 shares in the last quarter. Wellington Management Group LLP grew its holdings in Genius Sports by 383.6% in the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after buying an additional 5,772,540 shares in the last quarter. Ophir Asset Management Pty Ltd bought a new position in Genius Sports in the 4th quarter worth approximately $21,961,000. Intrinsic Edge Capital Management LLC grew its holdings in Genius Sports by 9.0% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 1,631,145 shares of the company’s stock worth $10,080,000 after buying an additional 134,442 shares in the last quarter. Finally, CenterBook Partners LP grew its holdings in Genius Sports by 10.1% in the 4th quarter. CenterBook Partners LP now owns 538,016 shares of the company’s stock worth $3,325,000 after buying an additional 49,426 shares in the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Stock Up 0.3 %

Shares of NYSE:GENI traded up $0.01 during trading on Monday, hitting $5.21. 1,457,298 shares of the company traded hands, compared to its average volume of 2,242,548. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -12.95 and a beta of 1.97. The business’s fifty day moving average is $5.96 and its 200-day moving average is $5.88. Genius Sports has a one year low of $3.64 and a one year high of $8.45.

Genius Sports (NYSE:GENI) last posted its earnings results on Wednesday, March 6th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.10). The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the company posted ($0.18) earnings per share. On average, analysts forecast that Genius Sports will post -0.13 EPS for the current year.

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.