Lightspeed Commerce Inc. (NYSE:LSPD) Sees Significant Decrease in Short Interest

Lightspeed Commerce Inc. (NYSE:LSPD) was the target of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 5,010,000 shares, a decrease of 13.3% from the February 13th total of 5,780,000 shares. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily volume of 771,000 shares, the days-to-cover ratio is currently 6.5 days.

Lightspeed Commerce Stock Performance

Shares of LSPD traded down $0.19 on Wednesday, reaching $10.32. 262,293 shares of the stock traded hands, compared to its average volume of 871,926. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -12.89, a P/E/G ratio of 3.03 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. Lightspeed Commerce has a 12 month low of $10.20 and a 12 month high of $18.96. The stock’s 50-day moving average price is $13.30 and its 200-day moving average price is $14.88.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. Equities analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

LSPD has been the topic of several recent research reports. Bank of America initiated coverage on shares of Lightspeed Commerce in a research report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price objective on the stock. UBS Group decreased their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Scotiabank decreased their price objective on shares of Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 7th. Barclays reduced their target price on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.39.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc boosted its stake in Lightspeed Commerce by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock worth $2,620,000 after purchasing an additional 679 shares in the last quarter. Addenda Capital Inc. boosted its stake in Lightspeed Commerce by 2.0% in the fourth quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock worth $710,000 after purchasing an additional 931 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Lightspeed Commerce by 214.4% during the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after acquiring an additional 1,025 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after acquiring an additional 1,276 shares during the period. Finally, Scotia Capital Inc. lifted its stake in shares of Lightspeed Commerce by 12.0% during the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock valued at $293,000 after acquiring an additional 2,053 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.