WideOpenWest, Inc. (NYSE:WOW) Short Interest Up 1,579.1% in July

Key Points

• WideOpenWest, Inc. experienced a dramatic increase in short interest, rising 1,579.1% from 93,500 shares to 1,570,000 shares during July 2023.
• The company's stock price is currently around $3.34, with a market capitalization of $285.50 million and a debt-to-equity ratio of 5.17.
• Analysts have varied opinions on the stock, with Wall Street Zen upgrading it from a "sell" to a "hold," while Benchmark reduced their price target from $7.50 to $6.50.

WideOpenWest, Inc. (NYSE:WOW - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,570,000 shares, agrowthof1,579.1% from the June 30th total of 93,500 shares. Currently,3.1% of the company's shares are sold short. Based on an average daily trading volume, of 279,900 shares, the short-interest ratio is presently 5.6 days. Based on an average daily trading volume, of 279,900 shares, the short-interest ratio is presently 5.6 days. Currently,3.1% of the company's shares are sold short.

WideOpenWest Trading Up 0.4%

Shares of WideOpenWest stock traded up $0.02 during midday trading on Monday, reaching $3.36. The company had a trading volume of 417,124 shares, compared to its average volume of 338,748. The firm has a market cap of $286.77 million, a PE ratio of -4.79 and a beta of 1.24. The company has a debt-to-equity ratio of 5.17, a current ratio of 0.66 and a quick ratio of 0.66. WideOpenWest has a fifty-two week low of $3.26 and a fifty-two week high of $5.80. The stock has a fifty day moving average price of $3.98 and a 200 day moving average price of $4.33.

WideOpenWest (NYSE:WOW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.02. WideOpenWest had a negative return on equity of 26.90% and a negative net margin of 9.32%. The company had revenue of $150.00 million for the quarter, compared to the consensus estimate of $148.17 million. During the same period in the previous year, the business earned ($0.18) EPS. The firm's revenue was down 7.1% compared to the same quarter last year. On average, equities analysts anticipate that WideOpenWest will post -0.72 earnings per share for the current year.

Institutional Trading of WideOpenWest

Several hedge funds have recently modified their holdings of WOW. Paragon Capital Management Ltd acquired a new position in WideOpenWest during the 1st quarter valued at about $6,098,000. LB Partners LLC lifted its holdings in shares of WideOpenWest by 4.1% in the first quarter. LB Partners LLC now owns 7,358,522 shares of the company's stock valued at $35,946,000 after purchasing an additional 288,678 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of WideOpenWest by 32.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,108,298 shares of the company's stock valued at $5,497,000 after buying an additional 273,737 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in WideOpenWest by 40.9% during the fourth quarter. JPMorgan Chase & Co. now owns 706,080 shares of the company's stock worth $3,502,000 after buying an additional 204,926 shares in the last quarter. Finally, DRW Securities LLC raised its position in WideOpenWest by 82.4% in the 4th quarter. DRW Securities LLC now owns 413,172 shares of the company's stock valued at $2,049,000 after buying an additional 186,597 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

WOW has been the topic of a number of recent analyst reports. Wall Street Zen upgraded WideOpenWest from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Benchmark cut their price target on shares of WideOpenWest from $7.50 to $6.50 and set a "buy" rating for the company in a report on Thursday, May 29th.

About WideOpenWest

WideOpenWest, Inc provides high speed data, cable television, and digital telephony services to residential and business services customers in the United States. The company's video services include basic cable services that comprise local broadcast television and local community programming; digital cable services; WOW tv+ that offers traditional cable video and cloud DVR functionality, voice remote with Google Assistant, and Netflix integration along with access to various streaming services and apps through the Google Play Store; and commercial-free movies, TV shows, sports, and other special event entertainment programs.