LYFT Inc (NASDAQ:LYFT) Sees Significant Increase in Short Interest

LYFT Inc (NASDAQ:LYFT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling …

LYFT logoLYFT Inc (NASDAQ:LYFT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 19,510,000 shares, a growth of 11.9% from the December 15th total of 17,440,000 shares. Based on an average daily volume of 6,120,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 9.8% of the shares of the stock are sold short.

In other LYFT news, EVP Ran I. Makavy sold 35,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $43.23, for a total value of $1,513,050.00. Also, General Counsel Kristin Sverchek sold 10,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $43.98, for a total transaction of $439,800.00. The disclosure for this sale can be found here. Insiders sold a total of 236,909 shares of company stock worth $10,435,627 over the last quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of LYFT. Amundi Pioneer Asset Management Inc. acquired a new position in shares of LYFT during the first quarter worth $39,000. Bank of Montreal Can acquired a new position in shares of LYFT during the second quarter worth $131,000. Charles Schwab Investment Management Inc. acquired a new position in shares of LYFT during the second quarter worth $4,641,000. LPL Financial LLC acquired a new position in shares of LYFT during the second quarter worth $1,144,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of LYFT during the second quarter worth $7,368,000. 44.35% of the stock is owned by institutional investors.

Shares of NASDAQ LYFT opened at $46.35 on Tuesday. LYFT has a 1 year low of $37.07 and a 1 year high of $88.60. The firm has a 50-day moving average of $46.19 and a 200 day moving average of $49.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.49 and a quick ratio of 1.49.

LYFT (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, October 30th. The ride-sharing company reported ($1.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.66) by $0.09. The business had revenue of $955.60 million for the quarter, compared to analysts’ expectations of $915.15 million. LYFT’s quarterly revenue was up 63.4% on a year-over-year basis. On average, equities analysts forecast that LYFT will post -10.41 EPS for the current year.

A number of equities analysts have recently commented on LYFT shares. Piper Jaffray Companies decreased their price target on shares of LYFT from $79.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, December 3rd. Barclays reduced their target price on shares of LYFT from $63.00 to $51.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Benchmark initiated coverage on shares of LYFT in a report on Thursday, January 9th. They set a “sell” rating and a $35.00 target price on the stock. MKM Partners increased their target price on shares of LYFT to $50.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, HSBC raised shares of LYFT from a “hold” rating to a “buy” rating and dropped their price target for the company from $67.00 to $62.00 in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have given a buy rating to the company. LYFT presently has an average rating of “Buy” and a consensus target price of $66.94.

LYFT Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It provides Ridesharing Marketplace, which facilitates lead generation, billing and settlement, support, and related activities to enable drivers to provide their transportation services to riders.

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