Short Interest in Uber Technologies Inc (NYSE:UBER) Grows By 15.9%

Uber Technologies Inc (NYSE:UBER) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 50,700,000 shares, a growth of 15.9% from the August 30th total of 43,730,000 shares. Based on an average daily trading volume, of 9,470,000 shares, the short-interest ratio is presently 5.4 days. Approximately 6.9% of the company’s shares are short sold.

Several brokerages have recently issued reports on UBER. HSBC raised shares of Uber Technologies from a “hold” rating to a “buy” rating and lowered their price objective for the company from $49.00 to $44.00 in a research note on Monday, September 16th. Raymond James set a $54.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a report on Monday, September 30th. Northcoast Research started coverage on shares of Uber Technologies in a report on Thursday, June 20th. They set a “neutral” rating on the stock. Morgan Stanley reduced their target price on shares of Uber Technologies from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. They noted that the move was a valuation call. Finally, MKM Partners started coverage on shares of Uber Technologies in a report on Wednesday, October 2nd. They set a “neutral” rating and a $32.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $52.08.

UBER stock traded up $0.88 during trading on Tuesday, reaching $32.00. The stock had a trading volume of 7,815,442 shares, compared to its average volume of 12,121,613. Uber Technologies has a 1-year low of $28.31 and a 1-year high of $47.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.57 and a quick ratio of 2.57. The company has a fifty day moving average of $31.71.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Thursday, August 8th. The ride-sharing company reported ($4.72) EPS for the quarter, missing analysts’ consensus estimates of ($3.33) by ($1.39). The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the company earned ($2.01) EPS. Uber Technologies’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Uber Technologies will post -7.08 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Legacy Advisors LLC acquired a new position in Uber Technologies in the 2nd quarter worth $26,000. Avestar Capital LLC acquired a new position in Uber Technologies in the 2nd quarter worth $27,000. Sound Income Strategies LLC acquired a new position in Uber Technologies in the 2nd quarter worth $28,000. Signaturefd LLC acquired a new position in Uber Technologies in the 2nd quarter worth $31,000. Finally, Regal Wealth Group Inc. acquired a new position in Uber Technologies in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 45.34% of the company’s stock.

About Uber Technologies

Uber Technologies, Inc develops and supports proprietary technology applications that enable independent providers of ridesharing, and meal preparation and delivery services to transact with end-users worldwide. The company operates in two segments, Core Platform and Other Bets. Its driver partners provide ridesharing services through a range of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis, as well as based on the number of riders under the UberBLACK, UberX, UberPOOL, Express POOL, and Uber Bus names; and restaurant and delivery partners provide meal preparation and delivery services under the Uber Eats name.

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