Short Interest in NerdWallet, Inc. (NASDAQ:NRDS) Drops By 23.8%

NerdWallet, Inc. (NASDAQ:NRDS - Get Free Report) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,990,000 shares, a drop of 23.8% from the April 30th total of 2,610,000 shares. Based on an average daily volume of 549,200 shares, the days-to-cover ratio is currently 3.6 days. Approximately 5.6% of the shares of the company are sold short.

NerdWallet Stock Up 1.2%

Shares of NerdWallet stock traded up $0.13 during trading on Thursday, reaching $10.92. The company's stock had a trading volume of 236,123 shares, compared to its average volume of 545,035. NerdWallet has a 12-month low of $7.55 and a 12-month high of $16.45. The company has a market capitalization of $813.31 million, a P/E ratio of 27.29 and a beta of 1.46. The business has a 50 day moving average price of $9.61 and a 200-day moving average price of $11.59.

Institutional Trading of NerdWallet

A number of institutional investors have recently bought and sold shares of NRDS. SG Americas Securities LLC boosted its position in NerdWallet by 17.0% during the fourth quarter. SG Americas Securities LLC now owns 16,232 shares of the company's stock worth $216,000 after purchasing an additional 2,364 shares in the last quarter. Rhumbline Advisers boosted its position in NerdWallet by 1.5% during the fourth quarter. Rhumbline Advisers now owns 51,536 shares of the company's stock worth $685,000 after purchasing an additional 769 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in NerdWallet by 892.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 216,172 shares of the company's stock worth $2,875,000 after purchasing an additional 194,387 shares in the last quarter. Versor Investments LP purchased a new stake in NerdWallet during the fourth quarter worth $669,000. Finally, US Bancorp DE boosted its position in NerdWallet by 41.2% during the fourth quarter. US Bancorp DE now owns 9,592 shares of the company's stock worth $128,000 after purchasing an additional 2,800 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays lifted their target price on NerdWallet from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Morgan Stanley decreased their price target on NerdWallet from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. KeyCorp decreased their price target on NerdWallet from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Citigroup decreased their price target on NerdWallet from $14.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

NerdWallet Company Profile

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.