Lightspeed Commerce Inc. (NYSE:LSPD) Short Interest Up 28.9% in March

Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 6,460,000 shares, a growth of 28.9% from the February 28th total of 5,010,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily volume of 880,200 shares, the days-to-cover ratio is presently 7.3 days.

Lightspeed Commerce Stock Down 7.4 %

Shares of LSPD traded down $0.61 during midday trading on Friday, reaching $7.60. The stock had a trading volume of 953,578 shares, compared to its average volume of 936,687. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The company's fifty day simple moving average is $12.04 and its two-hundred day simple moving average is $14.60. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -9.48, a PEG ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a 1-year low of $7.43 and a 1-year high of $18.96.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Equities research analysts expect that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC acquired a new stake in shares of Lightspeed Commerce during the third quarter worth about $448,000. FMR LLC increased its holdings in shares of Lightspeed Commerce by 7.1% in the third quarter. FMR LLC now owns 58,971 shares of the company's stock valued at $972,000 after purchasing an additional 3,900 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Lightspeed Commerce during the third quarter worth approximately $499,000. PDT Partners LLC acquired a new stake in shares of Lightspeed Commerce during the third quarter worth $659,000. Finally, Azora Capital LP grew its position in Lightspeed Commerce by 3.4% in the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company's stock valued at $23,735,000 after buying an additional 47,359 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LSPD shares. Bank of America lowered their price target on Lightspeed Commerce from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Benchmark lowered their target price on shares of Lightspeed Commerce from $21.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Scotiabank lowered their price objective on Lightspeed Commerce from $19.00 to $17.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, March 25th. UBS Group reduced their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a research note on Friday, February 7th. Finally, Royal Bank of Canada dropped their target price on Lightspeed Commerce from $20.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.09.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.