Short Interest in Genius Sports Limited (NYSE:GENI) Increases By 16.3%

Genius Sports Limited (NYSE:GENI) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 17,019,527 shares, an increase of 16.3% from the March 31st total of 14,637,882 shares. Based on an average daily volume of 4,700,717 shares, the short-interest ratio is presently 3.6 days. Approximately 8.3% of the company’s shares are sold short.

Genius Sports Stock Performance

Shares of Genius Sports stock traded down $0.01 on Friday, hitting $4.36. The company had a trading volume of 4,094,836 shares, compared to its average volume of 4,155,126. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -10.13 and a beta of 1.80. Genius Sports has a 1 year low of $3.83 and a 1 year high of $13.73. The stock has a 50 day moving average of $4.91 and a 200-day moving average of $8.21.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). The company had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $234.94 million. Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The business’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share.

Institutional Trading of Genius Sports

Several institutional investors and hedge funds have recently modified their holdings of GENI. JPMorgan Chase & Co. increased its position in shares of Genius Sports by 79.5% during the third quarter. JPMorgan Chase & Co. now owns 1,293,172 shares of the company’s stock valued at $16,009,000 after acquiring an additional 572,607 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Genius Sports by 395.5% during the third quarter. New York State Common Retirement Fund now owns 979,000 shares of the company’s stock valued at $12,120,000 after acquiring an additional 781,411 shares during the last quarter. Penn Capital Management Company LLC increased its position in shares of Genius Sports by 2,593.7% during the third quarter. Penn Capital Management Company LLC now owns 1,219,711 shares of the company’s stock valued at $15,116,000 after acquiring an additional 1,174,431 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Genius Sports by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,006,277 shares of the company’s stock valued at $36,316,000 after acquiring an additional 117,591 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Genius Sports by 341.6% during the third quarter. Stephens Investment Management Group LLC now owns 3,330,469 shares of the company’s stock valued at $41,231,000 after acquiring an additional 2,576,329 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial cut their target price on Genius Sports from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Guggenheim cut their target price on Genius Sports from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Benchmark restated a “buy” rating on shares of Genius Sports in a research report on Thursday, March 5th. Northland Securities set a $12.00 target price on Genius Sports in a research report on Friday, February 6th. Finally, BTIG Research cut their target price on Genius Sports from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.