FreeCast (Direct Listing) (NASDAQ:CAST) Short Interest Update

Key Points

• FreeCast’s short interest plunged 81.1% in June to 668,108 shares, leaving just 1.6% of the float short and a near-zero days-to-cover ratio.
• The stock was trading around $2.86 on Friday, with a market cap of about $118.24 million; it remains well below its 52-week high of $33.00.
• Analyst sentiment is mixed but cautious: the stock currently carries an average Hold rating, with a consensus target price of $6.00.

FreeCast (Direct Listing) (NASDAQ:CAST - Get Free Report) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 668,108 shares, a decline of 81.1% from the June 15th total of 3,526,512 shares. Based on an average daily volume of 16,485,826 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.6% of the shares of the stock are short sold.

FreeCast (Direct Listing) Stock Performance

Shares of NASDAQ:CAST traded down $0.55 during midday trading on Friday, reaching $2.86. The company's stock had a trading volume of 593,295 shares, compared to its average volume of 7,073,782. The firm has a market cap of $118.24 million and a price-to-earnings ratio of -15.89. The company's 50 day moving average is $3.00. FreeCast has a 1 year low of $0.50 and a 1 year high of $33.00.

FreeCast (Direct Listing) (NASDAQ:CAST - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $0.09 million during the quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of FreeCast (Direct Listing) from a "strong sell" rating to a "sell" rating in a report on Saturday, June 20th. Zacks Research upgraded shares of FreeCast (Direct Listing) to a "hold" rating in a report on Wednesday, June 10th. Weiss Ratings began coverage on shares of FreeCast (Direct Listing) in a research note on Wednesday, June 3rd. They set a "sell (e-)" rating on the stock. Finally, Maxim Group started coverage on shares of FreeCast (Direct Listing) in a research report on Friday, April 24th. They set a "buy" rating and a $6.00 target price on the stock. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, FreeCast (Direct Listing) currently has an average rating of "Hold" and an average target price of $6.00.

About FreeCast (Direct Listing)

FreeCast, Inc is a digital media and streaming-technology company that operates a platform for aggregated video content and content discovery. The company focuses on enabling consumers to find and access free, ad-supported and subscription video across connected TVs, mobile devices and the web through a unified interface. FreeCast's offering is positioned to address fragmentation in the streaming ecosystem by simplifying discovery and centralizing access to disparate streaming sources.

Its core activities center on content aggregation, distribution and monetization tools for both end users and business partners.

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