Liftoff Mobile, Inc. (NASDAQ:LFTO) Short Interest Update

Liftoff Mobile, Inc. (NASDAQ:LFTO) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 1,430,843 shares, an increase of 49.3% from the July 30th total of 958,575 shares. Based on an average daily volume of 1,195,461 shares, the short-interest ratio is presently 1.2 days. Currently, 0.8% of the company’s stock are short sold.

Wall Street Analyst Weigh In

LFTO has been the subject of several recent analyst reports. Wolfe Research began coverage on Liftoff Mobile in a research note on Monday, June 29th. They set a “peer perform” rating for the company. Morgan Stanley started coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an “equal weight” rating and a $30.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Liftoff Mobile from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Zacks Research raised shares of Liftoff Mobile to a “hold” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set an “outperform” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.85.

Liftoff Mobile Stock Performance

Liftoff Mobile stock traded down $0.08 during midday trading on Wednesday, hitting $18.65. 236,404 shares of the company’s stock were exchanged, compared to its average volume of 861,487. Liftoff Mobile has a 12-month low of $17.90 and a 12-month high of $30.10. The business has a 50 day moving average price of $22.58.

Liftoff Mobile (NASDAQ:LFTO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.49. The business had revenue of $219.51 million during the quarter. As a group, equities analysts expect that Liftoff Mobile will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Liftoff Mobile

In other news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of Liftoff Mobile stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $29,999,981.00. Following the acquisition, the director owned 25,315,646 shares of the company’s stock, valued at $582,259,858. This trade represents a 5.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Trading of Liftoff Mobile

A number of hedge funds have recently added to or reduced their stakes in LFTO. WT Asset Management Ltd purchased a new position in shares of Liftoff Mobile in the 2nd quarter valued at approximately $480,000. Legal & General Group Plc acquired a new stake in shares of Liftoff Mobile during the second quarter worth $486,000. Bank of America Corp DE acquired a new stake in shares of Liftoff Mobile during the second quarter worth $1,282,000. Wellington Management Group LLP purchased a new position in Liftoff Mobile in the 2nd quarter valued at $4,433,000. Finally, Alyeska Investment Group L.P. purchased a new position in Liftoff Mobile in the 2nd quarter valued at $14,412,000.

About Liftoff Mobile

Liftoff Mobile Inc provides marketing and monetization solutions for the mobile app economy. Liftoff Mobile Inc is based in REDWOOD CITY, Calif.