Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE) Short Interest Update

Key Points

• Short interest fell 32.5% to 1.17 million shares as of August 14, representing 1.8% of outstanding shares and just 0.6 days to cover.
• Shares traded down 3.7% to $35, despite quarterly EPS of $0.53 exceeding the $0.19 consensus estimate and revenue rising 113.5% year over year to $189.56 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $32.29.
• Insiders sold significant amounts of stock, including President Lingke Wang’s $3.94 million sale and CEO Peter George Colis’s $1.0 million sale; insiders have sold 928,107 shares worth $24.8 million over the past 90 days.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 1,172,205 shares, a decrease of 32.5% from the July 30th total of 1,737,234 shares. Based on an average daily trading volume, of 2,093,069 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.8% of the company's shares are short sold.

Ethos Technologies Inc. Class A Common Stock Stock Down 3.7%

Shares of Ethos Technologies Inc. Class A Common Stock stock traded down $1.33 during trading hours on Tuesday, hitting $35.00. The company's stock had a trading volume of 1,074,832 shares, compared to its average volume of 708,716. Ethos Technologies Inc. Class A Common Stock has a 12 month low of $9.45 and a 12 month high of $40.97. The stock has a 50 day simple moving average of $25.15. The company has a market capitalization of $2.23 billion and a P/E ratio of -12.28.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LIFE shares. JPMorgan Chase & Co. lifted their price objective on shares of Ethos Technologies Inc. Class A Common Stock from $21.50 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Citigroup reaffirmed a "market outperform" rating on shares of Ethos Technologies Inc. Class A Common Stock in a research note on Tuesday, August 4th. Robert W. Baird increased their target price on shares of Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of Ethos Technologies Inc. Class A Common Stock from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Citizens Jmp boosted their price target on shares of Ethos Technologies Inc. Class A Common Stock from $27.00 to $33.00 and gave the company a "market outperform" rating in a report on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.29.

Insider Activity

In other news, CEO Peter George Colis sold 29,342 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $1,002,909.56. Following the completion of the sale, the chief executive officer directly owned 1,565,960 shares of the company's stock, valued at $53,524,512.80. This represents a 1.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Lingke Wang sold 118,333 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $33.29, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 928,107 shares of company stock valued at $24,825,665.

About Ethos Technologies Inc. Class A Common Stock

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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