Izea Worldwide, Inc. (NASDAQ:IZEA) Sees Significant Decline in Short Interest

Izea Worldwide, Inc. (NASDAQ:IZEA) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 60,879 shares, a drop of 39.0% from the September 15th total of 99,809 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 51,342 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in shares of Izea Worldwide by 59.8% during the 1st quarter. Renaissance Technologies LLC now owns 147,740 shares of the company’s stock worth $519,000 after purchasing an additional 55,300 shares in the last quarter. ARS Investment Partners LLC increased its holdings in Izea Worldwide by 9.6% in the 1st quarter. ARS Investment Partners LLC now owns 117,129 shares of the company’s stock valued at $411,000 after buying an additional 10,288 shares during the period. NewEdge Advisors LLC increased its holdings in Izea Worldwide by 733.2% in the 2nd quarter. NewEdge Advisors LLC now owns 37,051 shares of the company’s stock valued at $137,000 after buying an additional 32,604 shares during the period. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Izea Worldwide during the 1st quarter worth approximately $97,000. 15.56% of the stock is owned by institutional investors.

Izea Worldwide Trading Down 1.3%

IZEA stock opened at $2.28 on Friday. Izea Worldwide has a 1-year low of $2.13 and a 1-year high of $5.78. The firm has a market capitalization of $39.72 million, a PE ratio of -16.28 and a beta of 1.17. The business’s 50 day simple moving average is $2.78 and its 200 day simple moving average is $3.41.

Izea Worldwide (NASDAQ:IZEA) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $5.81 million during the quarter, compared to the consensus estimate of $8.00 million. Izea Worldwide had a negative net margin of 9.36% and a negative return on equity of 5.10%.

Analysts Set New Price Targets

Several research firms have weighed in on IZEA. Wall Street Zen raised Izea Worldwide from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Izea Worldwide in a research note on Monday, August 31st. Two research analysts have rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Izea Worldwide

IZEA Worldwide, Inc is a creator economy company that provides technology, data and managed services for influencer marketing and other forms of social media content. The company helps brands and agencies identify creators, develop campaigns, manage collaborations and measure results across digital platforms.

IZEA’s services include creator discovery and campaign management, sponsored content programs, social media strategy, content production and analytics. Its technology offerings are designed to support the workflow between marketers and creators, from sourcing and contracting through content delivery and performance reporting.

The company was founded in 2006 by Ted Murphy and is headquartered in Orlando, Florida.