Short Interest in Genius Sports Limited (NYSE:GENI) Expands By 7.7%

Genius Sports Limited (NYSE:GENI) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 26,470,000 shares, a growth of 7.7% from the November 15th total of 24,580,000 shares. Based on an average daily trading volume, of 2,740,000 shares, the days-to-cover ratio is currently 9.7 days. Approximately 14.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Macquarie raised their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, November 12th. B. Riley raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Genius Sports presently has an average rating of “Buy” and an average price target of $10.72.

Genius Sports Price Performance

Shares of NYSE:GENI traded down $0.05 during mid-day trading on Tuesday, reaching $9.28. 1,115,136 shares of the company traded hands, compared to its average volume of 2,414,628. The firm has a market cap of $2.13 billion, a PE ratio of -28.94 and a beta of 2.12. Genius Sports has a 52 week low of $4.91 and a 52 week high of $10.33. The company’s 50 day moving average price is $8.39 and its 200-day moving average price is $7.22.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. On average, research analysts predict that Genius Sports will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several large investors have recently added to or reduced their stakes in GENI. Koss Olinger Consulting LLC purchased a new position in shares of Genius Sports in the second quarter worth $64,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Genius Sports during the 2nd quarter valued at about $67,000. Sound Income Strategies LLC acquired a new position in shares of Genius Sports during the 3rd quarter worth approximately $78,000. Arkadios Wealth Advisors acquired a new stake in shares of Genius Sports in the third quarter valued at about $79,000. Finally, Captrust Financial Advisors acquired a new position in shares of Genius Sports during the third quarter valued at approximately $84,000. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports

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.