Short Interest in MBIA Expands By 128.6% (MBI)
MBIA (NYSE:MBI) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 13,440,451 shares, a growth of 128.6% from the June 30th total of 5,878,324 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 5,526,972 shares, the days-to-cover ratio is currently 2.4 days. Approximately 9.8% of the company’s stock are short sold.
Separately, analysts at BTIG Research downgraded shares of MBIA from a “buy” rating to a “neutral” rating in a research note on Monday, June 30th.
MBIA (NYSE:MBI) opened at 9.77 on Thursday. MBIA has a one year low of $9.20 and a one year high of $15.26. The stock’s 50-day moving average is $10.89 and its 200-day moving average is $12.16. The company has a market cap of $1.907 billion and a price-to-earnings ratio of 5.63.
MBIA (NYSE:MBI) last released its earnings data on Monday, May 12th. The company reported $1.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $1.26. The company had revenue of $88.00 million for the quarter, compared to the consensus estimate of $93.45 million. During the same quarter last year, the company posted $0.84 earnings per share. MBIA’s revenue was down 26.7% compared to the same quarter last year. On average, analysts predict that MBIA will post $1.11 earnings per share for the current fiscal year.
MBIA Inc (NYSE:MBI) together with its consolidated subsidiaries, operates the financial guarantee insurance businesses in the industry and is a provider of asset management advisory services.
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