Freedom Holding Corp. (NASDAQ:FRHC) Sees Significant Increase in Short Interest

Key Points

• Short interest rose 19.2% in February to 988,087 shares (about 5.4% of the float), leaving a days-to-cover ratio of 8.9 and signaling elevated shorting activity.
• Shares recently traded up 3.2% to $136.23; Freedom has a market cap of $8.34 billion and an average analyst rating of "Sell" with an average target of $138.
• In the latest quarter the company reported $1.25 EPS on $628.62 million in revenue but delivered a very thin net margin of 0.13% and a return on equity of 0.21%.

Freedom Holding Corp. (NASDAQ:FRHC - Get Free Report) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 988,087 shares, an increase of 19.2% from the February 12th total of 829,066 shares. Currently, 5.4% of the company's stock are short sold. Based on an average daily volume of 110,954 shares, the days-to-cover ratio is presently 8.9 days. Based on an average daily volume of 110,954 shares, the days-to-cover ratio is presently 8.9 days. Currently, 5.4% of the company's stock are short sold.

Freedom Stock Up 3.2%

Shares of NASDAQ:FRHC traded up $4.24 on Monday, hitting $136.23. 77,600 shares of the company traded hands, compared to its average volume of 109,455. The stock has a 50 day simple moving average of $125.03 and a 200-day simple moving average of $141.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.03. The company has a market cap of $8.34 billion, a PE ratio of 6,811.50 and a beta of 0.84. Freedom has a 52 week low of $107.97 and a 52 week high of $194.01.

Freedom (NASDAQ:FRHC - Get Free Report) last released its quarterly earnings data on Monday, February 9th. The company reported $1.25 earnings per share for the quarter. The business had revenue of $628.62 million during the quarter. Freedom had a net margin of 0.13% and a return on equity of 0.21%.

Hedge Funds Weigh In On Freedom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRHC. Franklin Resources Inc. bought a new position in shares of Freedom during the second quarter valued at $1,348,000. Highland Capital Management LLC purchased a new stake in shares of Freedom during the third quarter valued at $1,609,000. State Board of Administration of Florida Retirement System bought a new stake in Freedom in the 2nd quarter worth about $1,584,000. Geode Capital Management LLC raised its position in Freedom by 198.5% in the 2nd quarter. Geode Capital Management LLC now owns 159,904 shares of the company's stock worth $23,350,000 after buying an additional 106,338 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Freedom by 188.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 76,068 shares of the company's stock worth $13,094,000 after buying an additional 49,712 shares during the last quarter. 1.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FRHC shares. Wall Street Zen raised shares of Freedom from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Weiss Ratings reissued a "sell (d+)" rating on shares of Freedom in a research note on Monday, December 29th. Finally, Loop Capital set a $138.00 target price on shares of Freedom in a research note on Thursday, February 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Freedom currently has an average rating of "Sell" and an average target price of $138.00.

About Freedom

Freedom Holding Corp NASDAQ: FRHC is a diversified financial services holding company that provides a broad range of brokerage, trading, investment banking, and asset management services. Through its subsidiaries, the company caters to retail, institutional, and corporate clients by offering access to global capital markets, equity and fixed-income trading, and research-driven investment strategies.

The firm's product suite includes online and over-the-counter brokerage platforms, margin lending, securities underwriting, and M&A advisory services.

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