Liftoff Mobile, Inc. (NASDAQ:LFTO) Short Interest Up ? in June

Liftoff Mobile, Inc. (NASDAQ:LFTO) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 1,035,642 shares, an increase of ? from the May 31st total of 0 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 1,968,245 shares, the days-to-cover ratio is currently 0.5 days.

Key Stories Impacting Liftoff Mobile

Here are the key news stories impacting Liftoff Mobile this week:

• Positive Sentiment: Multiple major firms initiated coverage with bullish ratings and price targets well above the current share price, including UBS ($38), Goldman Sachs ($40), Jefferies ($34), Barclays ($34), Cantor Fitzgerald ($33), Wells Fargo ($32), BTIG ($35), RBC ($35), and Raymond James ($32). This kind of broad buy-side analyst support often boosts investor confidence. Analyst coverage reports
• Positive Sentiment: A Seeking Alpha article said Liftoff has an advantage in data and access to both demand and supply sides of mobile advertising, with its Cortex engine helping optimize advertiser ROI and publisher yield. The piece also cited 130% LTM net dollar retention and expansion into non-gaming verticals as evidence of a strong growth runway. Seeking Alpha article
• Neutral Sentiment: The IPO quiet period has expired, which allowed more analyst opinions to be published; the main market impact appears to be the influx of new coverage rather than any new company-specific operational announcement. MSN article

Insider Buying and Selling

In related news, Director Atlantic Genpar L.P. General acquired 1,304,347 shares of Liftoff Mobile stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $23.00 per share, with a total value of $29,999,981.00. Following the transaction, the director owned 25,315,646 shares in the company, valued at $582,259,858. This trade represents a 5.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group started coverage on shares of Liftoff Mobile in a report on Monday. They issued a “buy” rating and a $38.00 price objective for the company. Raymond James Financial began coverage on Liftoff Mobile in a research note on Monday. They issued an “outperform” rating and a $32.00 target price for the company. Morgan Stanley started coverage on Liftoff Mobile in a report on Monday. They issued an “equal weight” rating and a $30.00 price objective for the company. Jefferies Financial Group began coverage on Liftoff Mobile in a research report on Monday. They set a “buy” rating and a $34.00 price objective for the company. Finally, BTIG Research began coverage on shares of Liftoff Mobile in a report on Monday. They set a “buy” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.17.

Liftoff Mobile Stock Performance

Shares of Liftoff Mobile stock traded up $0.35 during midday trading on Wednesday, hitting $24.37. The company had a trading volume of 515,520 shares, compared to its average volume of 1,105,761. Liftoff Mobile has a 52-week low of $23.08 and a 52-week high of $30.10.