Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE) Shares Shorted: Short Interest Up 103.9% in September

Key Points

• Short interest more than doubled in September to 3.71 million shares, up 103.9% from mid-month and representing 6.0% of shares outstanding. The short-interest ratio stands at 2.0 days.
• Insiders sold 1.09 million shares worth approximately $31.3 million over the past 90 days, including sales by the president and a major shareholder.
• Ethos reported strong quarterly results, with EPS of $0.53 versus $0.19 expected and revenue up 113.5% year over year to $189.56 million. Analysts maintain a “Moderate Buy” consensus, with an average price target of $35.62.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 3,710,794 shares, an increase of 103.9% from the September 15th total of 1,819,799 shares. Currently, 6.0% of the shares of the company are short sold. Based on an average daily volume of 1,826,762 shares, the short-interest ratio is presently 2.0 days.

Insider Activity at Ethos Technologies Inc. Class A Common Stock

In related news, President Lingke Wang sold 118,333 shares of Ethos Technologies Inc. Class A Common Stock stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $33.29, for a total transaction of $3,939,305.57. Following the completion of the sale, the president directly owned 1,537,543 shares of the company's stock, valued at approximately $51,184,806.47. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The SEC filing for this sale provides additional information. Insiders have sold 1,093,107 shares of company stock valued at $31,271,566 in the last 90 days.

Institutional Investors Weigh In On Ethos Technologies Inc. Class A Common Stock

Institutional investors and hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Ethos Technologies Inc. Class A Common Stock in the 3rd quarter valued at approximately $32,000. Zevenbergen Capital Investments LLC bought a new stake in shares of Ethos Technologies Inc. Class A Common Stock during the 3rd quarter worth approximately $720,000. State Street Corp acquired a new stake in shares of Ethos Technologies Inc. Class A Common Stock during the 2nd quarter worth approximately $932,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Ethos Technologies Inc. Class A Common Stock during the 2nd quarter worth approximately $6,191,000. Finally, Glynn Capital Management LLC bought a new position in Ethos Technologies Inc. Class A Common Stock in the third quarter valued at approximately $15,999,000. Institutional investors own 61.72% of the company's stock.

Ethos Technologies Inc. Class A Common Stock Price Performance

Shares of LIFE stock opened at $39.61 on Wednesday. The company has a 50 day moving average of $35.95. Ethos Technologies Inc. Class A Common Stock has a 1 year low of $9.45 and a 1 year high of $42.55.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.34. The company had revenue of $189.56 million for the quarter. The business's revenue for the quarter was up 113.5% on a year-over-year basis. As a group, analysts predict that Ethos Technologies Inc. Class A Common Stock will post -2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $35.00 target price on shares of Ethos Technologies Inc. Class A Common Stock in a research report on Tuesday, August 4th. Robert W. Baird upped their price target on shares of Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. lowered shares of Ethos Technologies Inc. Class A Common Stock from an "overweight" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research report on Thursday, October 1st. Citizens Jmp lifted their price objective on shares of Ethos Technologies Inc. Class A Common Stock from $33.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Monday. Finally, Citigroup reiterated a "market outperform" rating on shares of Ethos Technologies Inc. Class A Common Stock in a research note on Monday. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.62.

Ethos Technologies Inc. Class A Common Stock Company Profile

Ethos Technologies Inc operates a technology-driven, direct-to-consumer platform for the distribution of life insurance products. Through its digital underwriting, data analytics, and proprietary technology, it enables consumers to explore, compare, and purchase life insurance policies online. The platform serves consumers, agents, and insurance carriers, and supports the application and policy issuance process through an online interface. The company works with insurance carriers to offer life insurance products in the United States through digital channels and independent agents.

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