Genius Sports Limited (NYSE:GENI) Sees Large Increase in Short Interest

Genius Sports Limited (NYSE:GENI) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 24,430,000 shares, an increase of 26.3% from the October 15th total of 19,340,000 shares. Based on an average daily trading volume, of 2,420,000 shares, the short-interest ratio is presently 10.1 days. Approximately 13.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

GENI has been the topic of a number of research reports. Oppenheimer upped their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Macquarie raised their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Benchmark lifted their price target on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley increased 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. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, November 12th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports has an average rating of “Buy” and a consensus price target of $10.39.

Genius Sports Trading Down 3.0 %

Shares of GENI stock opened at $9.11 on Friday. The firm’s 50-day simple moving average is $7.66 and its 200-day simple moving average is $6.60. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.15.

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

Institutional Trading of Genius Sports

A number of institutional investors have recently modified their holdings of GENI. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Genius Sports by 42.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock worth $98,000 after buying an additional 5,342 shares during the period. Levin Capital Strategies L.P. boosted its position in Genius Sports by 40.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $200,000 after purchasing an additional 10,000 shares during the period. Sound Income Strategies LLC acquired a new stake in Genius Sports in the 3rd quarter valued at $78,000. Arkadios Wealth Advisors purchased a new position in 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 worth about $84,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

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.