Short Interest in MoneyLion Inc. (NYSE:ML) Drops By 21.7%

MoneyLion Inc. (NYSE:ML) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 363,800 shares, a decline of 21.7% from the November 15th total of 464,500 shares. Currently, 6.1% of the company’s stock are short sold. Based on an average daily trading volume, of 219,500 shares, the short-interest ratio is currently 1.7 days.

Insiders Place Their Bets

In related news, Director Chris Sugden sold 25,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $86.22, for a total value of $2,155,500.00. Following the transaction, the director now owns 1,062,505 shares in the company, valued at $91,609,181.10. The trade was a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Adam Vanwagner sold 6,165 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $70.00, for a total value of $431,550.00. Following the transaction, the insider now directly owns 103,133 shares of the company’s stock, valued at approximately $7,219,310. This trade represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,872 shares of company stock valued at $8,998,024 in the last ninety days. Insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of MoneyLion by 63.6% during the third quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the period. Point72 DIFC Ltd bought a new stake in shares of MoneyLion in the third quarter worth $40,000. FMR LLC boosted its holdings in MoneyLion by 154.6% in the third quarter. FMR LLC now owns 1,049 shares of the company’s stock worth $44,000 after purchasing an additional 637 shares during the period. Quest Partners LLC boosted its holdings in MoneyLion by 3,016.7% in the third quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock worth $163,000 after purchasing an additional 3,801 shares during the period. Finally, Fiducient Advisors LLC acquired a new position in MoneyLion in the second quarter worth $204,000. Institutional investors and hedge funds own 31.43% of the company’s stock.

MoneyLion Stock Performance

MoneyLion stock traded up $1.13 during midday trading on Friday, reaching $87.38. The stock had a trading volume of 816,960 shares, compared to its average volume of 213,959. MoneyLion has a twelve month low of $36.65 and a twelve month high of $106.82. The stock has a market capitalization of $970.01 million, a PE ratio of 397.18 and a beta of 3.08. The stock’s 50-day simple moving average is $66.00 and its 200 day simple moving average is $62.46.

Wall Street Analyst Weigh In

ML has been the subject of several research analyst reports. Northland Securities raised their price objective on MoneyLion from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating and set a $100.00 price target on shares of MoneyLion in a research report on Wednesday. Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Lake Street Capital reaffirmed a “hold” rating and issued a $82.00 price objective (down previously from $109.00) on shares of MoneyLion in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MoneyLion has an average rating of “Buy” and an average target price of $100.00.

MoneyLion Company Profile

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.