MercadoLibre, Inc. (NASDAQ:MELI) Short Interest Update

MercadoLibre, Inc. (NASDAQ:MELI) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 891,079 shares, an increase of 14.8% from the February 12th total of 776,095 shares. Based on an average trading volume of 639,650 shares, the short-interest ratio is currently 1.4 days. Currently, 1.8% of the shares of the stock are sold short. Currently, 1.8% of the shares of the stock are sold short. Based on an average trading volume of 639,650 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On MercadoLibre

Hedge funds have recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the second quarter valued at $29,000. Curio Wealth LLC acquired a new stake in MercadoLibre in the fourth quarter valued at $30,000. Finally, Holos Integrated Wealth LLC bought a new position in MercadoLibre during the 4th quarter worth $32,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. UBS Group reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,725.33.

MercadoLibre Price Performance

Shares of MELI traded down $10.01 during trading hours on Tuesday, reaching $1,722.32. The stock had a trading volume of 236,908 shares, compared to its average volume of 616,808. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. The stock has a market capitalization of $87.32 billion, a PE ratio of 43.60, a PEG ratio of 0.89 and a beta of 1.48. The company’s 50-day moving average is $1,987.89 and its two-hundred day moving average is $2,110.20.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. MercadoLibre’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $12.61 earnings per share. Research analysts expect that MercadoLibre will post 43.96 EPS for the current year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.