MoneyLion Inc. (NYSE:ML) Sees Significant Growth in Short Interest

MoneyLion Inc. (NYSE:ML - Get Free Report) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 814,600 shares, a growth of 79.3% from the February 13th total of 454,300 shares. Currently, 11.2% of the shares of the stock are short sold. Based on an average trading volume of 220,700 shares, the short-interest ratio is presently 3.7 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on ML. Northland Securities increased their price objective on MoneyLion from $80.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. B. Riley downgraded MoneyLion from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $133.00 to $90.00 in a report on Wednesday, February 26th. Lake Street Capital reiterated a "hold" rating and set a $82.00 price target (down from $109.00) on shares of MoneyLion in a report on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of MoneyLion in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, MoneyLion has an average rating of "Moderate Buy" and a consensus target price of $92.83.

Insider Activity

In related news, CEO Diwakar Choubey sold 5,253 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $85.76, for a total value of $450,497.28. Following the completion of the sale, the chief executive officer now directly owns 344,928 shares in the company, valued at $29,581,025.28. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timmie Hong sold 6,254 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $86.39, for a total value of $540,283.06. Following the completion of the sale, the insider now owns 91,011 shares of the company's stock, valued at $7,862,440.29. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,309 shares of company stock worth $4,716,335. Insiders own 11.90% of the company's stock.

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Institutional Trading of MoneyLion

Several large investors have recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company's stock valued at $27,000 after buying an additional 255 shares during the period. SBI Securities Co. Ltd. bought a new position in MoneyLion in the 4th quarter valued at about $29,000. California State Teachers Retirement System lifted its position in MoneyLion by 8.8% in the 4th quarter. California State Teachers Retirement System now owns 6,306 shares of the company's stock valued at $542,000 after acquiring an additional 511 shares in the last quarter. MetLife Investment Management LLC lifted its position in MoneyLion by 12.6% in the 4th quarter. MetLife Investment Management LLC now owns 5,634 shares of the company's stock valued at $485,000 after acquiring an additional 629 shares in the last quarter. Finally, FMR LLC lifted its position in MoneyLion by 154.6% in the 3rd quarter. FMR LLC now owns 1,049 shares of the company's stock valued at $44,000 after acquiring an additional 637 shares in the last quarter. 31.43% of the stock is currently owned by institutional investors and hedge funds.

MoneyLion Price Performance

Shares of ML traded down $0.08 during trading hours on Tuesday, hitting $87.02. The stock had a trading volume of 145,457 shares, compared to its average volume of 210,584. The firm has a 50 day simple moving average of $86.75 and a 200-day simple moving average of $71.41. The firm has a market capitalization of $985.07 million, a P/E ratio of 395.55 and a beta of 3.04. MoneyLion has a 1-year low of $36.65 and a 1-year high of $106.82.

MoneyLion Company Profile

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.