Short Interest in Duolingo, Inc. (NASDAQ:DUOL) Grows By 11.1%

Duolingo, Inc. (NASDAQ:DUOL) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,210,000 shares, an increase of 11.1% from the July 15th total of 1,990,000 shares. Currently, 6.1% of the shares of the company are sold short. Based on an average daily trading volume, of 828,300 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DUOL. Bank of America upgraded shares of Duolingo from a “neutral” rating to a “buy” rating and set a $245.00 target price on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on Duolingo from $275.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC cut their target price on Duolingo from $267.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. DA Davidson initiated coverage on Duolingo in a research note on Thursday, June 13th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Duolingo from $230.00 to $183.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Duolingo currently has an average rating of “Moderate Buy” and an average target price of $237.40.

Duolingo Stock Up 0.5 %

Shares of NASDAQ DUOL traded up $1.04 during mid-day trading on Monday, reaching $204.20. The company had a trading volume of 176,497 shares, compared to its average volume of 765,451. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.22 and a current ratio of 3.22. Duolingo has a twelve month low of $124.01 and a twelve month high of $251.30. The stock’s 50 day moving average is $188.54 and its 200-day moving average is $199.04. The stock has a market capitalization of $8.81 billion, a PE ratio of 209.44 and a beta of 0.72.

Duolingo (NASDAQ:DUOL) last issued its earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19. Duolingo had a return on equity of 7.08% and a net margin of 7.82%. The firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $177.13 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, equities analysts anticipate that Duolingo will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Duolingo news, CEO Ahn Luis Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $215.00, for a total value of $215,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Duolingo news, CEO Ahn Luis Von sold 1,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $215.00, for a total transaction of $215,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Severin Hacker sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $198.61, for a total value of $1,986,100.00. Following the completion of the sale, the insider now owns 72 shares of the company’s stock, valued at $14,299.92. The disclosure for this sale can be found here. Insiders sold a total of 41,500 shares of company stock worth $7,614,045 in the last three months. 18.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Duolingo

Hedge funds have recently added to or reduced their stakes in the company. Discovery Value Fund bought a new stake in Duolingo in the fourth quarter worth approximately $27,000. Larson Financial Group LLC acquired a new stake in shares of Duolingo in the 2nd quarter valued at $31,000. Blue Trust Inc. acquired a new stake in shares of Duolingo in the 2nd quarter valued at $32,000. GAMMA Investing LLC boosted its holdings in Duolingo by 350.0% in the second quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Duolingo during the second quarter worth $36,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Duolingo Company Profile

Duolingo, Inc operates as a mobile learning platform in the United States, the United Kingdom, and internationally. The company offers courses in 40 different languages, including Spanish, English, French, German, Italian, Portuguese, Japanese, and Chinese through its Duolingo app. It also provides a digital English language proficiency assessment exam.