Short Interest in Nextdoor Holdings, Inc. (NYSE:KIND) Expands By 7.8%

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,290,000 shares, a growth of 7.8% from the March 15th total of 3,980,000 shares. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.7% of the company's stock are short sold.

Nextdoor Price Performance

NYSE KIND traded down $0.04 during trading hours on Wednesday, hitting $1.92. The company's stock had a trading volume of 915,890 shares, compared to its average volume of 1,666,106. The company's 50 day simple moving average is $2.05 and its two-hundred day simple moving average is $1.84. The company has a market cap of $755.77 million, a P/E ratio of -5.16 and a beta of 0.98. Nextdoor has a 12 month low of $1.32 and a 12 month high of $3.42.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The business had revenue of $55.56 million for the quarter, compared to analysts' expectations of $50.94 million. Nextdoor had a negative net margin of 67.69% and a negative return on equity of 24.22%. As a group, research analysts predict that Nextdoor will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Nextdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of KIND. Jump Financial LLC bought a new position in shares of Nextdoor during the 3rd quarter worth $25,000. Quantbot Technologies LP increased its position in shares of Nextdoor by 261.4% during the first quarter. Quantbot Technologies LP now owns 4,922 shares of the company's stock worth $29,000 after purchasing an additional 3,560 shares in the last quarter. Cerity Partners LLC purchased a new stake in Nextdoor in the fourth quarter valued at about $30,000. Guggenheim Capital LLC acquired a new stake in Nextdoor in the 3rd quarter worth approximately $31,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Nextdoor during the third quarter valued at $31,000. Hedge funds and other institutional investors own 35.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted their target price on shares of Nextdoor from $1.75 to $2.25 and gave the company a "neutral" rating in a report on Wednesday, February 28th.

About Nextdoor

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.