23andMe Holding Co. (NASDAQ:ME) Sees Significant Increase in Short Interest

23andMe Holding Co. (NASDAQ:ME - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,700,000 shares, an increase of 22.3% from the February 13th total of 1,390,000 shares. Based on an average trading volume of 299,500 shares, the days-to-cover ratio is presently 5.7 days. Approximately 10.7% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of 23andMe in a report on Friday, March 7th.

23andMe Price Performance

Shares of ME stock traded up $0.03 during trading hours on Friday, hitting $1.79. The company had a trading volume of 205,480 shares, compared to its average volume of 264,157. The company's fifty day moving average is $2.55 and its 200 day moving average is $3.96. 23andMe has a fifty-two week low of $1.34 and a fifty-two week high of $12.76. The stock has a market capitalization of $48.02 million, a PE ratio of -0.12 and a beta of 1.19.

23andMe (NASDAQ:ME - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported ($1.02) earnings per share (EPS) for the quarter. 23andMe had a negative return on equity of 170.07% and a negative net margin of 183.39%.

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Institutional Investors Weigh In On 23andMe

Hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in shares of 23andMe in the 4th quarter valued at approximately $26,000. Leavell Investment Management Inc. purchased a new stake in shares of 23andMe in the 4th quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of 23andMe in the 4th quarter valued at approximately $40,000. Virtu Financial LLC purchased a new stake in shares of 23andMe in the 4th quarter valued at approximately $49,000. Finally, FMR LLC increased its position in shares of 23andMe by 24.0% in the 3rd quarter. FMR LLC now owns 993,848 shares of the company's stock valued at $345,000 after purchasing an additional 192,099 shares during the last quarter. 36.10% of the stock is currently owned by institutional investors and hedge funds.

23andMe Company Profile

23andMe Holding Co operates as a consumer genetics testing company. The company operates in two segments, Consumer & Research Services and Therapeutics. The Consumer & Research Services segment provides a suite of genetic reports, including information on customers' genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medications.