Short Interest in Genius Sports Limited (NYSE:GENI) Expands By 17.7%

Genius Sports Limited (NYSE:GENI - Get Free Report) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 9,090,000 shares, an increase of 17.7% from the May 31st total of 7,720,000 shares. Approximately 5.9% of the company's shares are short sold. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is currently 5.0 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on GENI shares. JMP Securities boosted their target price on shares of Genius Sports from $8.00 to $9.00 and gave the company a "market outperform" rating in a report on Thursday, May 9th. Benchmark restated a "buy" rating and issued a $10.00 target price on shares of Genius Sports in a report on Thursday, March 7th. Needham & Company LLC restated a "buy" rating and issued a $9.00 target price on shares of Genius Sports in a report on Thursday, May 9th. Citigroup initiated coverage on shares of Genius Sports in a report on Thursday, June 13th. They set a "buy" rating and a $9.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Genius Sports in a report on Tuesday, April 16th. They set a "buy" rating and a $7.50 price objective on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.33.

Genius Sports Price Performance

Shares of Genius Sports stock traded down $0.10 on Friday, reaching $5.45. 2,494,885 shares of the company traded hands, compared to its average volume of 1,269,609. Genius Sports has a 52 week low of $4.62 and a 52 week high of $8.45. The company has a 50 day moving average of $5.28 and a 200 day moving average of $5.90. The firm has a market capitalization of $1.25 billion, a PE ratio of -13.97 and a beta of 1.96.

Genius Sports (NYSE:GENI - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The company had revenue of $119.72 million for the quarter, compared to the consensus estimate of $116.53 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm's revenue was up 23.1% on a year-over-year basis. As a group, analysts anticipate that Genius Sports will post -0.17 earnings per share for the current year.

Institutional Trading of Genius Sports

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Genius Sports during the 1st quarter valued at approximately $94,000. Levin Capital Strategies L.P. lifted its stake in Genius Sports by 40.0% in the 1st quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock worth $200,000 after purchasing an additional 10,000 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Genius Sports by 4.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company's stock worth $6,621,000 after purchasing an additional 50,482 shares in the last quarter. MQS Management LLC purchased a new stake in Genius Sports in the 1st quarter worth approximately $167,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Genius Sports by 58.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company's stock worth $467,000 after purchasing an additional 30,089 shares in the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.