Genius Sports Limited (NYSE:GENI) Sees Large Growth in Short Interest

Key Points

• Short interest jumped 16.3% in April to 17,019,527 shares as of April 15, equal to about 8.3% of shares sold short and a short‑interest ratio of 3.6 days.
• Shares recently traded at $4.28 with a market cap of roughly $1.05 billion; the company posted a negative EPS (missed estimates) despite revenue growth of 37% year‑over‑year
• Institutional investors own about 81.9% of the stock, and analysts' consensus is a "Moderate Buy" with an average target price of $12.50, though several firms have adjusted price targets recently.

Genius Sports Limited (NYSE:GENI - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 17,019,527 shares, a growth of 16.3% from the March 31st total of 14,637,882 shares. Based on an average trading volume of 4,700,717 shares, the short-interest ratio is presently 3.6 days. Approximately 8.3% of the shares of the company are sold short.

Genius Sports Stock Performance

GENI traded up $0.03 during trading on Thursday, hitting $4.28. 1,111,950 shares of the stock were exchanged, compared to its average volume of 6,097,132. The firm has a 50 day simple moving average of $4.96 and a 200 day simple moving average of $8.24. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -9.94 and a beta of 2.08. Genius Sports has a 1 year low of $3.83 and a 1 year high of $13.73.

Genius Sports (NYSE:GENI - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The firm had revenue of $240.50 million for the quarter, compared to analysts' expectations of $234.94 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company's revenue for the quarter was up 37.0% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Genius Sports by 9.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,131 shares of the company's stock valued at $175,000 after acquiring an additional 1,177 shares during the period. Prelude Capital Management LLC boosted its position in shares of Genius Sports by 1.3% in the 3rd quarter. Prelude Capital Management LLC now owns 92,529 shares of the company's stock worth $1,146,000 after purchasing an additional 1,181 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Genius Sports by 10.0% in the 2nd quarter. Cetera Investment Advisers now owns 15,288 shares of the company's stock worth $159,000 after purchasing an additional 1,388 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Genius Sports by 2.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 77,289 shares of the company's stock worth $802,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Main Management ETF Advisors LLC boosted its position in shares of Genius Sports by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 163,647 shares of the company's stock worth $1,803,000 after purchasing an additional 1,672 shares in the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on GENI. Northland Securities set a $12.00 price objective on Genius Sports in a report on Friday, February 6th. B. Riley Financial reaffirmed a "buy" rating on shares of Genius Sports in a research note on Friday, February 6th. Wall Street Zen upgraded Genius Sports from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Stifel Nicolaus decreased their price objective on Genius Sports from $7.00 to $5.00 and set a "hold" rating on the stock in a research report on Thursday, April 9th. Finally, BTIG Research decreased their price objective on Genius Sports from $16.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.50.

Genius Sports Company Profile

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.

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