SoFi Technologies, Inc. (NASDAQ:SOFI) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 21,060,000 shares, a growth of 32.5% from the August 15th total of 15,890,000 shares. Approximately 4.3% of the shares of the company are short sold. Based on an average daily volume of 17,750,000 shares, the days-to-cover ratio is currently 1.2 days.
Shares of SOFI stock opened at $15.17 on Wednesday. The company’s 50-day moving average price is $15.28. SoFi Technologies has a fifty-two week low of $10.10 and a fifty-two week high of $28.26. The company has a quick ratio of 17.29, a current ratio of 17.29 and a debt-to-equity ratio of 0.55.
SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Thursday, August 12th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.41). As a group, sell-side analysts predict that SoFi Technologies will post -0.84 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of SoFi Technologies during the 2nd quarter valued at $1,195,000. Jasper Ridge Partners L.P. acquired a new stake in shares of SoFi Technologies during the second quarter worth $1,112,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of SoFi Technologies during the second quarter valued at $431,000. Marshall Wace LLP acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at $17,175,000. Finally, Marshall Wace North America L.P. purchased a new position in SoFi Technologies in the 2nd quarter worth about $1,498,000. 25.00% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on SOFI shares. Oppenheimer assumed coverage on SoFi Technologies in a research report on Tuesday, June 1st. They set an “outperform” rating and a $25.00 price target for the company. Mizuho began coverage on shares of SoFi Technologies in a research note on Tuesday, September 14th. They set a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research lowered shares of SoFi Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 7th. Credit Suisse Group initiated coverage on shares of SoFi Technologies in a research report on Thursday, September 9th. They set a “neutral” rating and a $16.50 price target on the stock. Finally, Rosenblatt Securities assumed coverage on shares of SoFi Technologies in a report on Tuesday, June 15th. They issued a “buy” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.88.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. The company operates through three reportable segments: Lending, Financial Services, and Technology Platform. Its financial services allow its members to borrow, save, spend, invest, and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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