Lyft, Inc. (NASDAQ:LYFT) Short Interest Update

Lyft, Inc. (NASDAQ:LYFT) saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 51,050,000 shares, an increase of 7.2% from the July 31st total of 47,610,000 shares. Based on an average trading volume of 15,280,000 shares, the short-interest ratio is currently 3.3 days.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 8,486 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the transaction, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the completion of the sale, the president now directly owns 50,778 shares of the company’s stock, valued at approximately $711,399.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 8,486 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the transaction, the insider now directly owns 764,332 shares in the company, valued at $8,988,544.32. The disclosure for this sale can be found here. Insiders sold a total of 32,497 shares of company stock valued at $392,157 over the last three months. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Lyft

A number of hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Lyft by 15.1% in the first quarter. Commonwealth Equity Services LLC now owns 39,613 shares of the ride-sharing company’s stock worth $767,000 after purchasing an additional 5,184 shares during the period. Swiss National Bank lifted its position in shares of Lyft by 2.0% in the first quarter. Swiss National Bank now owns 683,100 shares of the ride-sharing company’s stock worth $13,218,000 after buying an additional 13,300 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Lyft by 163.9% during the fourth quarter. Corient Private Wealth LLC now owns 100,826 shares of the ride-sharing company’s stock valued at $1,511,000 after buying an additional 62,623 shares during the last quarter. Range Financial Group LLC purchased a new position in Lyft during the 1st quarter valued at approximately $470,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Lyft in the 1st quarter worth approximately $41,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Lyft from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Vertical Research raised Lyft to a “strong-buy” rating in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Melius Research initiated coverage on shares of Lyft in a research report on Monday, July 22nd. They set a “hold” rating and a $15.00 target price for the company. Finally, Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating and boosted their price target for the company from $15.00 to $20.00 in a research report on Friday, June 7th. Twenty-five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $15.73.

Lyft Trading Down 2.7 %

Shares of LYFT stock opened at $11.35 on Wednesday. The business has a 50-day moving average of $12.00 and a 200 day moving average of $15.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft has a 1-year low of $8.85 and a 1-year high of $20.82. The stock has a market capitalization of $4.66 billion, a PE ratio of -24.15 and a beta of 2.06.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative net margin of 1.27% and a negative return on equity of 8.57%. The business’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) earnings per share. As a group, sell-side analysts anticipate that Lyft will post -0.16 earnings per share for the current year.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.