Short Interest in Liftoff Mobile, Inc. (NASDAQ:LFTO) Rises By 49.3%

Liftoff Mobile, Inc. (NASDAQ:LFTO) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 1,430,843 shares, an increase of 49.3% from the July 30th total of 958,575 shares. Based on an average trading volume of 1,195,461 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.8% of the company’s shares are sold short.

Insider Transactions at Liftoff Mobile

In other Liftoff Mobile news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $23.00 per share, with a total value of $29,999,981.00. Following the completion of the purchase, the director owned 25,315,646 shares of the company’s stock, valued at approximately $582,259,858. The trade was a 5.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Institutional Investors Weigh In On Liftoff Mobile

Several institutional investors and hedge funds have recently made changes to their positions in the business. WT Asset Management Ltd acquired a new stake in Liftoff Mobile during the second quarter worth approximately $480,000. Legal & General Group Plc bought a new position in shares of Liftoff Mobile during the 2nd quarter worth approximately $486,000. Bank of America Corp DE bought a new position in shares of Liftoff Mobile during the 2nd quarter worth approximately $1,282,000. Readystate Asset Management LP acquired a new stake in shares of Liftoff Mobile during the 2nd quarter worth approximately $1,677,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Liftoff Mobile during the 2nd quarter worth approximately $4,433,000.

Liftoff Mobile Stock Performance

Shares of NASDAQ:LFTO traded up $0.01 during trading on Tuesday, reaching $18.59. The stock had a trading volume of 310,651 shares, compared to its average volume of 863,152. Liftoff Mobile has a 52 week low of $17.90 and a 52 week high of $30.10. The business’s fifty day moving average is $22.72.

Liftoff Mobile (NASDAQ:LFTO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.49. The firm had revenue of $219.51 million for the quarter. As a group, sell-side analysts anticipate that Liftoff Mobile will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley started coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Wells Fargo & Company raised their target price on Liftoff Mobile from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft started coverage on Liftoff Mobile in a report on Monday, June 29th. They set a “buy” rating and a $37.00 target price on the stock. Wall Street Zen upgraded Liftoff Mobile from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, William Blair started coverage on Liftoff Mobile in a research note on Monday, June 29th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.69.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.