Eventbrite, Inc. (NYSE:EB) Sees Large Increase in Short Interest

Eventbrite, Inc. (NYSE:EB - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,940,000 shares, a growth of 24.3% from the February 28th total of 3,170,000 shares. Approximately 5.2% of the company's shares are sold short. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EB. BWS Financial reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Eventbrite in a research note on Monday, March 3rd. B. Riley restated a "neutral" rating and issued a $3.50 price target (down from $5.00) on shares of Eventbrite in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.40.

Eventbrite Trading Down 4.5 %

Shares of Eventbrite stock traded down $0.09 during midday trading on Friday, reaching $1.93. The company had a trading volume of 1,800,937 shares, compared to its average volume of 1,531,097. The firm has a market cap of $182.63 million, a PE ratio of -21.44 and a beta of 2.04. The stock has a fifty day moving average price of $2.79 and a 200 day moving average price of $3.13. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. Eventbrite has a fifty-two week low of $1.90 and a fifty-two week high of $5.98.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Eventbrite during the third quarter worth $25,000. Pallas Capital Advisors LLC acquired a new stake in Eventbrite during the 4th quarter worth about $37,000. Paloma Partners Management Co bought a new position in shares of Eventbrite in the 3rd quarter worth about $44,000. RPO LLC acquired a new position in shares of Eventbrite in the 4th quarter valued at about $55,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Eventbrite during the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 91.64% of the company's stock.

About Eventbrite

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.