23andMe Holding Co. (NASDAQ:ME) Short Interest Up 22.3% in February

23andMe Holding Co. (NASDAQ:ME) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,700,000 shares, a growth of 22.3% from the February 13th total of 1,390,000 shares. Based on an average trading volume of 299,500 shares, the days-to-cover ratio is presently 5.7 days. Approximately 10.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On 23andMe

Several hedge funds and other institutional investors have recently made changes to their positions in ME. Geode Capital Management LLC increased its holdings in 23andMe by 0.7% in the third quarter. Geode Capital Management LLC now owns 4,246,093 shares of the company’s stock valued at $1,476,000 after buying an additional 28,252 shares during the last quarter. Leavell Investment Management Inc. purchased a new position in shares of 23andMe in the 4th quarter valued at about $32,000. FNY Investment Advisers LLC acquired a new stake in shares of 23andMe during the 4th quarter worth about $26,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of 23andMe during the 4th quarter worth about $40,000. Finally, Shay Capital LLC increased its stake in 23andMe by 71.7% in the fourth quarter. Shay Capital LLC now owns 702,530 shares of the company’s stock valued at $2,283,000 after purchasing an additional 293,358 shares during the last quarter. Hedge funds and other institutional investors own 36.10% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 23andMe in a research note on Friday, March 7th.

23andMe Stock Down 2.9 %

NASDAQ:ME traded down $0.06 on Wednesday, reaching $1.86. 40,302 shares of the company’s stock were exchanged, compared to its average volume of 301,476. The business has a fifty day moving average of $2.68 and a 200-day moving average of $4.02. 23andMe has a 52-week low of $1.34 and a 52-week high of $12.76. The firm has a market capitalization of $49.76 million, a price-to-earnings ratio of -0.12 and a beta of 1.19.

23andMe (NASDAQ:ME) last posted its quarterly earnings data on Tuesday, January 28th. The company reported ($1.02) earnings per share for the quarter. 23andMe had a negative return on equity of 170.07% and a negative net margin of 183.39%.

23andMe Company Profile

23andMe Holding Co operates as a consumer genetics testing company. The company operates in two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications.