Lightspeed Commerce Inc. (NYSE:LSPD) Short Interest Up 28.9% in March

Lightspeed Commerce Inc. (NYSE:LSPD) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 6,460,000 shares, a growth of 28.9% from the February 28th total of 5,010,000 shares. Based on an average trading volume of 880,200 shares, the short-interest ratio is presently 7.3 days. Currently, 4.7% of the shares of the company are short sold.

Institutional Trading of Lightspeed Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of LSPD. Mackenzie Financial Corp lifted its stake in shares of Lightspeed Commerce by 156.9% in the 4th quarter. Mackenzie Financial Corp now owns 360,221 shares of the company’s stock valued at $5,487,000 after acquiring an additional 220,000 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Lightspeed Commerce by 17.6% during the fourth quarter. Toronto Dominion Bank now owns 20,477 shares of the company’s stock valued at $312,000 after purchasing an additional 3,069 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Lightspeed Commerce by 6.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,854 shares of the company’s stock worth $1,871,000 after purchasing an additional 7,022 shares during the last quarter. Twinbeech Capital LP acquired a new position in shares of Lightspeed Commerce in the fourth quarter valued at approximately $261,000. Finally, Two Sigma Advisers LP increased its stake in shares of Lightspeed Commerce by 165.6% in the fourth quarter. Two Sigma Advisers LP now owns 64,800 shares of the company’s stock valued at $987,000 after buying an additional 40,400 shares during the period. Institutional investors own 68.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler decreased their target price on Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Scotiabank lowered their price objective on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, March 25th. UBS Group reduced their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research report on Friday, February 7th. Bank of America dropped their price objective on shares of Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Finally, Atb Cap Markets lowered shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lightspeed Commerce has a consensus rating of “Hold” and a consensus price target of $15.09.

Lightspeed Commerce Price Performance

Shares of LSPD traded up $0.15 during midday trading on Wednesday, hitting $9.06. The company’s stock had a trading volume of 1,013,536 shares, compared to its average volume of 935,842. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a one year low of $8.54 and a one year high of $18.96. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.32, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The company’s fifty day simple moving average is $12.28 and its two-hundred day simple moving average is $14.69.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. As a group, equities analysts expect that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

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.