MoneyLion (NYSE:ML) Sees Large Volume Increase - What's Next?

MoneyLion Inc. (NYSE:ML - Get Free Report) shares saw strong trading volume on Friday . 313,512 shares changed hands during mid-day trading, an increase of 48% from the previous session's volume of 211,729 shares.The stock last traded at $85.85 and had previously closed at $86.25.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ML. Lake Street Capital restated a "hold" rating and set a $82.00 price objective (down previously from $109.00) on shares of MoneyLion in a report on Wednesday. Oppenheimer upgraded MoneyLion from a "market perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Thursday, November 7th. Cantor Fitzgerald upgraded MoneyLion to a "strong-buy" rating in a research report on Thursday, October 3rd. Northland Capmk raised MoneyLion to a "strong-buy" rating in a report on Wednesday, October 16th. Finally, Needham & Company LLC restated a "hold" rating and issued a $100.00 target price on shares of MoneyLion in a research note on Wednesday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MoneyLion currently has an average rating of "Buy" and an average price target of $100.00.

MoneyLion Trading Up 1.3 %

The firm has a market capitalization of $970.01 million, a price-to-earnings ratio of 397.18 and a beta of 3.08. The stock has a fifty day moving average price of $66.00 and a 200-day moving average price of $62.73.

Insiders Place Their Bets

In related news, insider Timmie Hong sold 2,504 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $48.35, for a total transaction of $121,068.40. Following the completion of the sale, the insider now directly owns 103,353 shares of the company's stock, valued at $4,997,117.55. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam Vanwagner sold 6,165 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $70.00, for a total value of $431,550.00. Following the completion of the transaction, the insider now directly owns 103,133 shares in the company, valued at approximately $7,219,310. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,872 shares of company stock worth $8,998,024 over the last three months. 11.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MoneyLion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its position in shares of MoneyLion by 63.6% during the third quarter. Covestor Ltd now owns 656 shares of the company's stock worth $27,000 after acquiring an additional 255 shares during the last quarter. ClariVest Asset Management LLC increased its position in MoneyLion by 2.6% in the second quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company's stock worth $748,000 after purchasing an additional 257 shares during the period. FMR LLC increased its position in MoneyLion by 154.6% in the third quarter. FMR LLC now owns 1,049 shares of the company's stock worth $44,000 after purchasing an additional 637 shares during the period. Point72 DIFC Ltd bought a new stake in MoneyLion during the 3rd quarter worth about $40,000. Finally, GSA Capital Partners LLP lifted its position in MoneyLion by 10.4% during the 3rd quarter. GSA Capital Partners LLP now owns 14,427 shares of the company's stock valued at $599,000 after purchasing an additional 1,360 shares during the period. Institutional investors and hedge funds own 31.43% of the company's stock.

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.