Marqeta, Inc. (NASDAQ:MQ) Short Interest Down 21.5% in January

Marqeta, Inc. (NASDAQ:MQ) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 13,580,000 shares, a drop of 21.5% from the January 15th total of 17,310,000 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily volume of 6,070,000 shares, the short-interest ratio is currently 2.2 days.

Marqeta Stock Down 2.4 %

Shares of NASDAQ:MQ opened at $3.62 on Friday. The company has a market cap of $1.82 billion, a PE ratio of 181.00 and a beta of 1.52. The company’s 50-day moving average price is $3.80 and its 200 day moving average price is $4.49. Marqeta has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Analyst Ratings Changes

MQ has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $4.00 in a report on Tuesday, November 5th. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a report on Tuesday, November 5th. Mizuho decreased their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Marqeta currently has an average rating of “Hold” and a consensus price target of $5.65.

Institutional Trading of Marqeta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Marqeta during the 4th quarter worth about $33,000. Blueshift Asset Management LLC bought a new stake in shares of Marqeta in the 4th quarter worth approximately $38,000. Covestor Ltd raised its holdings in shares of Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock worth $38,000 after purchasing an additional 9,290 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after purchasing an additional 49,243 shares in the last quarter. Finally, Certuity LLC bought a new stake in shares of Marqeta in the 4th quarter worth approximately $44,000. 78.64% of the stock is currently owned by institutional investors.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.