Axos Financial, Inc. (NYSE:AX) Sees Large Growth in Short Interest

Axos Financial, Inc. (NYSE:AX) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 5,290,000 shares, an increase of 6.4% from the August 15th total of 4,970,000 shares. Based on an average daily volume of 607,600 shares, the short-interest ratio is presently 8.7 days. Approximately 10.3% of the company’s stock are short sold.

Analyst Ratings Changes

A number of research analysts have weighed in on AX shares. Keefe, Bruyette & Woods lowered shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price for the company. in a research report on Wednesday, July 31st. Wedbush raised their target price on Axos Financial from $60.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Raymond James lifted their price target on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler increased their price objective on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $81.00.

Axos Financial Stock Performance

Axos Financial stock traded up $1.10 on Tuesday, hitting $65.71. The company’s stock had a trading volume of 611,047 shares, compared to its average volume of 594,672. The company has a fifty day moving average price of $66.86 and a 200-day moving average price of $58.47. The firm has a market cap of $3.74 billion, a P/E ratio of 8.87 and a beta of 1.40. Axos Financial has a one year low of $32.05 and a one year high of $79.15. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.80. The firm had revenue of $484.29 million during the quarter, compared to analyst estimates of $296.02 million. Axos Financial had a net margin of 23.96% and a return on equity of 18.57%. During the same quarter in the prior year, the business posted $1.50 earnings per share. On average, equities analysts anticipate that Axos Financial will post 7.22 earnings per share for the current year.

Insider Activity at Axos Financial

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the sale, the executive vice president now owns 424,149 shares in the company, valued at approximately $26,776,526.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.82% of the stock is owned by company insiders.

Institutional Trading of Axos Financial

Several institutional investors have recently bought and sold shares of AX. Hollencrest Capital Management bought a new stake in shares of Axos Financial during the second quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Axos Financial in the 4th quarter valued at about $26,000. EntryPoint Capital LLC lifted its position in shares of Axos Financial by 816.7% during the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock worth $27,000 after purchasing an additional 441 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new stake in shares of Axos Financial during the first quarter valued at approximately $27,000. Finally, FinTrust Capital Advisors LLC bought a new position in Axos Financial in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Axos Financial

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.