Short Interest in NVIDIA Co. (NASDAQ:NVDA) Drops By 22.1%
NVIDIA Co. (NASDAQ:NVDA) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 9,840,300 shares, a drop of 22.1% from the May 30th total of 12,625,800 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 11,190,000 shares, the short-interest ratio is presently 0.9 days.
NVDA traded up $1.33 during trading on Friday, reaching $167.61. 12,085,642 shares of the company’s stock were exchanged, compared to its average volume of 13,781,140. NVIDIA has a 1 year low of $124.46 and a 1 year high of $292.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 8.98 and a quick ratio of 7.78. The stock has a market capitalization of $97.48 billion, a PE ratio of 27.61, a P/E/G ratio of 4.05 and a beta of 2.09. The stock has a fifty day moving average of $151.30.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, May 16th. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a net margin of 30.68% and a return on equity of 31.27%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the firm posted $2.05 EPS. NVIDIA’s revenue for the quarter was down 30.8% compared to the same quarter last year. As a group, analysts predict that NVIDIA will post 4.22 earnings per share for the current fiscal year.
In other news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $145.10, for a total value of $14,510,000.00. Following the sale, the director now directly owns 32,983 shares in the company, valued at approximately $4,785,833.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 2,236 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $164.01, for a total transaction of $366,726.36. Following the completion of the sale, the chief financial officer now owns 239,710 shares in the company, valued at $39,314,837.10. The disclosure for this sale can be found here. 4.64% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Financial Planning LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Clarfeld Financial Advisors LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $29,000. Thor Advisors LLC purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $29,000. Harvest Group Wealth Management LLC purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $30,000. Finally, Truvestments Capital LLC purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $33,000. 67.51% of the stock is owned by institutional investors.
NVDA has been the topic of a number of recent analyst reports. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $158.57 price target on the stock. in a report on Friday, May 17th. Cascend Securities upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Thursday. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Morgan Stanley set a $20.00 price target on shares of C&J Energy Services and gave the company a “hold” rating in a report on Monday, May 13th. Finally, Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, March 20th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $194.34.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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