Miami International Holdings, Inc. (NYSE:MIAX) Short Interest Up 50.5% in December

Miami International Holdings, Inc. (NYSE:MIAX) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 2,007,443 shares, a growth of 50.5% from the November 30th total of 1,334,115 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 916,155 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily trading volume, of 916,155 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages recently commented on MIAX. Piper Sandler raised their price objective on shares of Miami International from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Keefe, Bruyette & Woods boosted their price objective on shares of Miami International from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a research report on Monday. William Blair started coverage on shares of Miami International in a report on Monday, September 8th. They issued an “outperform” rating on the stock. Finally, Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Miami International currently has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Hedge Funds Weigh In On Miami International

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Miami International during the 3rd quarter worth $17,684,000. Caldwell Investment Management Ltd. bought a new stake in Miami International in the third quarter worth about $27,056,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Miami International during the third quarter valued at approximately $101,000. Atlas Wealth Partners LLC acquired a new stake in shares of Miami International during the 3rd quarter valued at $881,000. Finally, Federated Hermes Inc. acquired a new position in shares of Miami International in the 3rd quarter valued at $10,065,000.

Miami International Trading Down 1.1%

Shares of Miami International stock traded down $0.53 on Tuesday, hitting $45.60. 814,778 shares of the company’s stock traded hands, compared to its average volume of 805,347. Miami International has a 52-week low of $28.63 and a 52-week high of $51.38. The business’s 50-day simple moving average is $45.20.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share.

Miami International Company Profile

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.