Short Interest in Carvana Co (NYSE:CVNA) Expands By 5.8%

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Carvana Co (NYSE:CVNA) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 18,330,000 shares, a growth of 5.8% from the January 15th total of 17,330,000 shares. Approximately 37.4% of the shares of the stock are short sold. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is presently 12.6 days.

Shares of NYSE:CVNA opened at $88.62 on Friday. The business has a fifty day moving average of $87.74 and a 200-day moving average of $81.88. The firm has a market cap of $13.31 billion, a PE ratio of -31.76 and a beta of 2.19. Carvana has a twelve month low of $34.16 and a twelve month high of $99.19. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.92 and a current ratio of 2.16.

CVNA has been the subject of a number of research reports. Citigroup raised their target price on Carvana from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Benchmark initiated coverage on Carvana in a research note on Thursday, January 9th. They issued a “hold” rating for the company. Evercore ISI initiated coverage on Carvana in a research note on Thursday, February 6th. They issued an “in-line” rating for the company. William Blair restated a “buy” rating on shares of Carvana in a research note on Tuesday, December 31st. Finally, Zacks Investment Research upgraded Carvana from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $84.86.

In other Carvana news, Director Ira J. Platt sold 734 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $87.50, for a total transaction of $64,225.00. Following the completion of the transaction, the director now directly owns 23,115 shares in the company, valued at $2,022,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 4,812 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $90.04, for a total value of $433,272.48. Following the transaction, the chief financial officer now owns 11,720 shares of the company’s stock, valued at $1,055,268.80. The disclosure for this sale can be found here. Insiders have sold 78,931 shares of company stock valued at $7,115,282 over the last quarter. Corporate insiders own 13.02% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC boosted its holdings in Carvana by 30.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 650 shares of the company’s stock valued at $60,000 after acquiring an additional 150 shares during the last quarter. Strs Ohio bought a new position in Carvana during the third quarter worth about $166,000. Prime Capital Investment Advisors LLC bought a new position in Carvana during the third quarter worth about $172,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Carvana by 18.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,983 shares of the company’s stock worth $197,000 after buying an additional 459 shares during the last quarter. Finally, Gabelli Funds LLC bought a new position in Carvana during the fourth quarter worth about $221,000. Institutional investors and hedge funds own 41.51% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

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