Wix.com Ltd. (WIX) Sees Significant Increase in Short Interest
Wix.com Ltd. (NASDAQ:WIX) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,255,066 shares, a growth of 47.7% from the September 15th total of 849,682 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average trading volume of 426,589 shares, the short-interest ratio is presently 2.9 days.
A number of hedge funds have recently added to or reduced their stakes in WIX. Numeric Investors LLC bought a new stake in Wix.com during the second quarter valued at $352,000. Grandeur Peak Global Advisors LLC boosted its stake in Wix.com by 75.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 362,175 shares of the company’s stock valued at $10,992,000 after buying an additional 155,675 shares during the period. Paloma Partners Management Co bought a new stake in Wix.com during the second quarter valued at $2,121,000. Marshall Wace LLP bought a new stake in Wix.com during the second quarter valued at $339,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Wix.com by 20.3% in the second quarter. Parametric Portfolio Associates LLC now owns 15,612 shares of the company’s stock valued at $474,000 after buying an additional 2,636 shares during the period. Institutional investors and hedge funds own 65.11% of the company’s stock.
WIX has been the topic of several research reports. Summit Redstone initiated coverage on shares of Wix.com in a report on Wednesday, September 7th. They set a “buy” rating and a $48.00 price objective on the stock. Zacks Investment Research upgraded shares of Wix.com from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, July 6th. Needham & Company LLC restated a “buy” rating on shares of Wix.com in a report on Monday, June 27th. Deutsche Bank AG upped their price objective on shares of Wix.com from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. downgraded shares of Wix.com from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $50.00 in a report on Wednesday, September 21st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.09.
Wix.com (NASDAQ:WIX) opened at 43.75 on Friday. Wix.com has a 52-week low of $14.79 and a 52-week high of $49.49. The company’s market cap is $1.80 billion. The company’s 50-day moving average is $43.32 and its 200 day moving average is $32.41.
Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company earned $68.70 million during the quarter, compared to the consensus estimate of $66.69 million. The business’s revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) EPS. Equities analysts forecast that Wix.com will post ($0.47) earnings per share for the current fiscal year.
Wix.com Company Profile
Wix is a leading global software platform for small businesses to operate online with millions of registered users in 190 countries. Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix’s powerful technology empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online.
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