Short Interest in Domo, Inc. (NASDAQ:DOMO) Rises By 59.2%

Domo, Inc. (NASDAQ:DOMO) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 6,419,424 shares, a growth of 59.2% from the July 15th total of 4,033,282 shares. Based on an average daily volume of 4,005,153 shares, the days-to-cover ratio is presently 1.6 days. Currently, 16.4% of the shares of the company are short sold.

Insider Activity

In related news, CEO Joshua G. James sold 96,088 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $228,689.44. Following the completion of the transaction, the chief executive officer directly owned 1,638,873 shares of the company’s stock, valued at $3,900,517.74. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daren Thayne sold 52,365 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the completion of the transaction, the executive vice president directly owned 498,051 shares of the company’s stock, valued at $1,185,361.38. This trade represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 373,526 shares of company stock worth $1,144,269 over the last ninety days. 13.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Domo

Hedge funds and other institutional investors have recently bought and sold shares of the business. RPD Fund Management LLC boosted its stake in Domo by 11,294.3% in the 4th quarter. RPD Fund Management LLC now owns 3,623,400 shares of the company’s stock worth $30,545,000 after purchasing an additional 3,591,600 shares during the period. Captrust Financial Advisors acquired a new stake in Domo during the 4th quarter valued at $8,108,000. First Trust Advisors LP acquired a new stake in Domo during the 3rd quarter valued at $9,744,000. AIGH Capital Management LLC lifted its holdings in shares of Domo by 37.0% in the fourth quarter. AIGH Capital Management LLC now owns 1,837,762 shares of the company’s stock valued at $15,492,000 after purchasing an additional 496,244 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Domo by 299.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 576,897 shares of the company’s stock valued at $4,863,000 after purchasing an additional 432,426 shares in the last quarter. 76.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DOMO shares. Lake Street Capital upgraded Domo from a “hold” rating to a “buy” rating and reduced their price target for the stock from $7.00 to $5.00 in a research report on Thursday, July 23rd. Citizens Jmp reissued a “market underperform” rating and set a $2.25 price target on shares of Domo in a report on Monday. Citigroup restated a “market underperform” rating on shares of Domo in a research note on Monday. Stephens downgraded shares of Domo from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $5.00 to $4.00 in a report on Thursday, July 23rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $3.50 target price on shares of Domo in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Domo presently has a consensus rating of “Reduce” and a consensus target price of $3.95.

Domo Stock Performance

Shares of DOMO stock opened at $3.75 on Wednesday. Domo has a 1 year low of $1.84 and a 1 year high of $18.49. The stock has a market cap of $169.31 million, a PE ratio of -2.82 and a beta of 1.76. The business’s fifty day moving average is $3.35 and its 200-day moving average is $3.68.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.