Short Interest in WideOpenWest, Inc. (NYSE:WOW) Rises By 1,579.1%

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 significant 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. Based on an average daily trading volume, of 279,900 shares, the days-to-cover ratio is presently 5.6 days. Currently,3.1% of the company's shares are sold short. Currently,3.1% of the company's shares are sold short. Based on an average daily trading volume, of 279,900 shares, the days-to-cover ratio is presently 5.6 days.

Hedge Funds Weigh In On WideOpenWest

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in WideOpenWest by 15.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,530 shares of the company's stock valued at $97,000 after buying an additional 2,657 shares during the last quarter. FNY Investment Advisers LLC raised its stake in WideOpenWest by 60.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,000 shares of the company's stock valued at $32,000 after buying an additional 3,000 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in WideOpenWest by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 155,998 shares of the company's stock valued at $633,000 after buying an additional 3,358 shares during the last quarter. Covestor Ltd raised its stake in WideOpenWest by 16.0% during the 4th quarter. Covestor Ltd now owns 29,680 shares of the company's stock valued at $147,000 after buying an additional 4,103 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in WideOpenWest by 26.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 24,000 shares of the company's stock valued at $119,000 after buying an additional 5,000 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

WideOpenWest Stock Down 0.3%

WideOpenWest stock traded down $0.01 during trading hours on Wednesday, hitting $3.35. 112,300 shares of the stock traded hands, compared to its average volume of 337,116. The firm's 50-day moving average price is $3.94 and its two-hundred day moving average price is $4.31. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 5.17. The company has a market cap of $286.44 million, a PE ratio of -4.79 and a beta of 1.24. WideOpenWest has a one year low of $3.26 and a one year high of $5.80.

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

Analyst Ratings Changes

WOW has been the topic of several recent analyst reports. Wall Street Zen raised WideOpenWest from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Benchmark cut their target price on WideOpenWest from $7.50 to $6.50 and set a "buy" rating on the stock in a research note on Thursday, May 29th.

WideOpenWest Company Profile

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.