NVIDIA Sees Significant Increase in Short Interest (NVDA)
Shares of NVIDIA (NASDAQ:NVDA) were the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 51,311,397 shares, a growth of 7.4% from the July 31st total of 47,782,574 shares, Analyst Ratings Net reports. Based on an average daily trading volume, of 8,658,752 shares, the days-to-cover ratio is presently 5.9 days. Approximately 9.7% of the shares of the stock are sold short.
A number of analysts have recently weighed in on NVDA shares. Analysts at Roth Capital raised their price target on shares of NVIDIA from $22.00 to $24.00 in a research note on Friday, August 8th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $19.00 to $20.00 in a research note on Friday, August 8th. Finally, analysts at Deutsche Bank raised their price target on shares of NVIDIA from $16.00 to $17.00 in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.04.
NVIDIA (NASDAQ:NVDA) opened at 19.39 on Friday. NVIDIA has a 52-week low of $14.52 and a 52-week high of $19.73. The stock’s 50-day moving average is $18.63 and its 200-day moving average is $18.53. The company has a market cap of $10.508 billion and a price-to-earnings ratio of 21.06.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that NVIDIA will post $1.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, August 19th.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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