Short Interest in Giftify, Inc. (NASDAQ:GIFT) Drops By 36.9%

Giftify, Inc. (NASDAQ:GIFT) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 29,581 shares, a decrease of 36.9% from the July 30th total of 46,882 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 117,859 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

GIFT has been the topic of a number of recent research reports. Zacks Research raised shares of Giftify to a “hold” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Giftify in a research note on Monday, July 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Giftify Stock Up 1.4%

GIFT traded up $0.01 during trading on Wednesday, hitting $0.81. The company had a trading volume of 23,519 shares, compared to its average volume of 79,304. Giftify has a 1-year low of $0.74 and a 1-year high of $1.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.02 and a quick ratio of 0.58. The company has a market cap of $28.73 million, a PE ratio of -3.00 and a beta of -1.35. The business has a 50-day moving average of $0.90 and a 200-day moving average of $0.94.

Giftify (NASDAQ:GIFT) last issued its earnings results on Monday, August 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $21.75 million for the quarter, compared to analyst estimates of $20.20 million. Giftify had a negative net margin of 10.32% and a negative return on equity of 39.87%. As a group, analysts forecast that Giftify will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. acquired a new stake in shares of Giftify during the 1st quarter valued at approximately $142,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Giftify during the second quarter worth $95,000. Blair William & Co. IL raised its holdings in shares of Giftify by 280.0% during the third quarter. Blair William & Co. IL now owns 95,000 shares of the company’s stock worth $101,000 after purchasing an additional 70,000 shares during the period. BlackRock Inc. bought a new position in shares of Giftify in the 2nd quarter worth about $82,000. Finally, Susquehanna International Group LLP boosted its holdings in shares of Giftify by 62.1% in the 3rd quarter. Susquehanna International Group LLP now owns 45,007 shares of the company’s stock valued at $48,000 after buying an additional 17,234 shares during the period.

About Giftify

Giftify, Inc (NASDAQ: GIFT) is a US-based technology company specializing in digital gift solutions for businesses across retail, hospitality and corporate sectors. The company’s cloud-based platform enables brands and organizations to create, distribute and redeem e-gift cards and e-vouchers through multiple channels, including email, SMS and API integrations. By offering a turnkey solution for branded gifting campaigns, Giftify helps clients drive consumer acquisition, retention and incremental revenue.

Central to Giftify’s offering is a suite of management tools that enable real-time tracking of gift card inventory, performance analytics and customer engagement metrics.