Miami International Holdings, Inc. (NYSE:MIAX) Sees Significant Increase in Short Interest

Miami International Holdings, Inc. (NYSE:MIAX) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 3,996,304 shares, a growth of 99.1% from the December 15th total of 2,007,443 shares. Based on an average trading volume of 1,268,942 shares, the days-to-cover ratio is presently 3.1 days. Approximately 4.9% of the shares of the stock are sold short. Approximately 4.9% of the shares of the stock are sold short. Based on an average trading volume of 1,268,942 shares, the days-to-cover ratio is presently 3.1 days.

Miami International Trading Up 2.1%

NYSE:MIAX traded up $0.90 during trading hours on Friday, hitting $43.45. The company had a trading volume of 788,487 shares, compared to its average volume of 1,064,006. Miami International has a 1 year low of $28.63 and a 1 year high of $51.38. The firm has a market capitalization of $3.54 billion and a P/E ratio of 2,172.50. The business’s 50-day moving average price is $44.99.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue was up 57.4% on a year-over-year basis.

Institutional Trading of Miami International

A number of hedge funds and other institutional investors have recently made changes to their positions in MIAX. Allspring Global Investments Holdings LLC purchased a new stake in shares of Miami International during the 3rd quarter valued at approximately $17,684,000. Caldwell Investment Management Ltd. purchased a new stake in Miami International in the third quarter valued at $27,056,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Miami International in the third quarter valued at $101,000. Atlas Wealth Partners LLC acquired a new position in shares of Miami International in the 3rd quarter valued at $881,000. Finally, Federated Hermes Inc. purchased a new position in shares of Miami International during the 3rd quarter worth $10,065,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on MIAX shares. Wall Street Zen upgraded Miami International from a “hold” rating to a “buy” rating in a research report on Saturday, December 27th. Piper Sandler lifted their target price on shares of Miami International from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. JPMorgan Chase & Co. raised their price target on shares of Miami International from $32.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley upped their price objective on shares of Miami International from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Miami International currently has a consensus rating of “Hold” and an average target price of $47.20.

Miami International Company Profile

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.