Zynga Short Interest Up 15.9% in August (ZNGA)
Shares of Zynga (NASDAQ:ZNGA) were the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 53,752,239 shares, a growth of 15.9% from the July 31st total of 46,370,379 shares, Analyst RN reports. Currently, 7.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 26,750,191 shares, the days-to-cover ratio is presently 2.0 days.
In other Zynga news, Director William B. Gordon sold 500,000 shares of Zynga stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $3.01, for a total transaction of $1,505,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on ZNGA. Analysts at Wedbush cut their price target on shares of Zynga from $7.00 to $6.00 in a research note on Friday, August 8th. Separately, analysts at Benchmark Co. cut their price target on shares of Zynga from $3.08 to $2.83 in a research note on Friday, August 8th. Finally, analysts at BMO Capital Markets cut their price target on shares of Zynga from $4.50 to $3.25 in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Zynga presently has an average rating of “Hold” and a consensus price target of $3.85.
Zynga (NASDAQ:ZNGA) opened at 2.88 on Friday. Zynga has a 52-week low of $2.70 and a 52-week high of $5.89. The stock’s 50-day moving average is $2.98 and its 200-day moving average is $3.80. The company’s market cap is $2.580 billion.
Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.04. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $191.21 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 33.7% on a year-over-year basis. Analysts expect that Zynga will post $-0.01 EPS for the current fiscal year.
Zynga Inc (NASDAQ:ZNGA) is the provider of social game services.
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