GreenSky Inc (NASDAQ:GSKY) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 21,137,300 shares, a growth of 126.8% from the April 30th total of 9,320,900 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is presently 14.9 days. Currently, 44.9% of the company’s shares are sold short.
Shares of GSKY traded down $0.30 during midday trading on Monday, hitting $12.50. The stock had a trading volume of 17,777 shares, compared to its average volume of 1,403,554. The firm has a 50 day moving average of $12.73. GreenSky has a twelve month low of $8.30 and a twelve month high of $25.20. The firm has a market capitalization of $2.32 billion and a price-to-earnings ratio of 178.43.
GreenSky (NASDAQ:GSKY) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. GreenSky had a negative return on equity of 120.94% and a net margin of 6.27%. The firm had revenue of $103.70 million for the quarter, compared to the consensus estimate of $103.46 million. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. Sell-side analysts predict that GreenSky will post 0.75 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Malaga Cove Capital LLC raised its stake in shares of GreenSky by 3.1% in the 1st quarter. Malaga Cove Capital LLC now owns 26,866 shares of the company’s stock valued at $348,000 after purchasing an additional 800 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of GreenSky by 81.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,943 shares of the company’s stock valued at $25,000 after purchasing an additional 872 shares during the period. Cowen Prime Services LLC raised its stake in shares of GreenSky by 100.0% in the 1st quarter. Cowen Prime Services LLC now owns 4,000 shares of the company’s stock valued at $52,000 after purchasing an additional 2,000 shares during the period. Sterling Investment Advisors Ltd. increased its position in shares of GreenSky by 100.0% in the first quarter. Sterling Investment Advisors Ltd. now owns 4,000 shares of the company’s stock valued at $52,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of GreenSky by 140.1% in the fourth quarter. Advisor Group Inc. now owns 3,446 shares of the company’s stock valued at $34,000 after acquiring an additional 2,011 shares during the last quarter. 32.41% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on GSKY shares. SunTrust Banks raised their price target on GreenSky to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price target on GreenSky from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Guggenheim lowered GreenSky from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.75 to $13.76 in a research report on Wednesday, May 8th. Finally, Citigroup raised their price target on GreenSky from $14.00 to $16.50 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.87.
GreenSky Company Profile
GreenSky, Inc, a technology company, provides point-of-sale financing and payment solutions to merchants, consumers, and banks. It offers a proprietary technology infrastructure that support the full transaction lifecycle, including credit application, underwriting, real-time allocation to bank partners, document distribution, funding, settlement, and servicing functions.
Further Reading: Earnings Per Share
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