Gaia, Inc. (NASDAQ:GAIA) Short Interest Update

Key Points

• Gaia’s short interest plunged sharply in June, falling 84.8% to 75,669 shares as of June 30 from 496,536 shares on June 15. That represents about 0.4% of shares outstanding, with a days-to-cover ratio of just 0.2 days.
• The stock traded near its low end, rising slightly to $2.14 on Friday but remaining well below its 12-month high of $6.39. Gaia’s market cap is about $54.16 million, and its shares are below both the 50-day and 200-day moving averages.
• Analysts remain bearish on Gaia, with recent downgrades from Weiss Ratings and Wall Street Zen and a consensus rating of “Sell.” The company also reported a smaller-than-expected quarterly loss, but revenue came in below estimates.

Gaia, Inc. (NASDAQ:GAIA - Get Free Report) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 75,669 shares, a decrease of 84.8% from the June 15th total of 496,536 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 475,528 shares, the days-to-cover ratio is currently 0.2 days.

Gaia Price Performance

Shares of GAIA stock traded up $0.08 during trading hours on Friday, hitting $2.14. The company had a trading volume of 74,748 shares, compared to its average volume of 282,575. Gaia has a 12 month low of $1.98 and a 12 month high of $6.39. The firm has a market capitalization of $54.16 million, a price-to-earnings ratio of -11.26 and a beta of 0.95. The firm's fifty day moving average is $2.37 and its 200 day moving average is $2.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.56 and a current ratio of 0.56.

Gaia (NASDAQ:GAIA - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. Gaia had a negative net margin of 4.76% and a negative return on equity of 4.62%. The firm had revenue of $24.31 million during the quarter, compared to the consensus estimate of $25.00 million. On average, sell-side analysts predict that Gaia will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on GAIA. Weiss Ratings downgraded shares of Gaia from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday. Wall Street Zen cut shares of Gaia from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Institutional Investors Weigh In On Gaia

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Gaia by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 28,622 shares of the company's stock worth $110,000 after acquiring an additional 8,500 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Gaia during the first quarter valued at approximately $73,000. Geode Capital Management LLC grew its stake in shares of Gaia by 113.3% during the second quarter. Geode Capital Management LLC now owns 405,602 shares of the company's stock valued at $1,781,000 after purchasing an additional 215,415 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gaia by 2,493.5% in the second quarter. JPMorgan Chase & Co. now owns 15,509 shares of the company's stock valued at $68,000 after purchasing an additional 14,911 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Gaia in the second quarter valued at approximately $90,000. Institutional investors own 40.53% of the company's stock.

About Gaia

Gaia, Inc operates a subscription-based streaming platform specializing in conscious media, alternative health, spirituality and personal transformation. The company's digital library features a curated selection of original series, documentaries, yoga and meditation classes, and instructional content aimed at mindfulness, holistic wellness and metaphysical exploration. Gaia's service is accessible through its website, mobile applications and a variety of connected-TV devices, providing on-demand access to content across multiple channels and formats.

Since launching its streaming service in 2011, Gaia has focused on developing proprietary programming and forging content partnerships with thought leaders, teachers and filmmakers in the fields of yoga, Ayurveda, consciousness studies and alternative healing.

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