Facebook Sees Large Drop in Short Interest (FB)
Facebook (NASDAQ:FB) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 35,303,147 shares, a drop of 6.5% from the July 31st total of 37,776,463 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 31,639,979 shares, the short-interest ratio is currently 1.1 days. Approximately 1.8% of the company’s stock are short sold.
In other Facebook news, Director Peter Thiel sold 380,560 shares of Facebook stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $74.82, for a total value of $28,473,499.20. The sale 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 FB. Analysts at William Blair reiterated an “outperform” rating on shares of Facebook in a research note on Wednesday, August 27th. They now have a $82.50 price target on the stock, up previously from $74.84. They noted that the move was a valuation call. Separately, analysts at Janney Montgomery Scott downgraded shares of Facebook from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 27th. They now have a $82.50 price target on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Facebook in a research note on Wednesday, August 13th. They set a “buy” rating and a $95.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $80.21.
Shares of Facebook (NASDAQ:FB) opened at 74.82 on Tuesday. Facebook has a one year low of $41.44 and a one year high of $76.74. The stock’s 50-day moving average is $72.59 and its 200-day moving average is $66.00. The company has a market cap of $194.5 billion and a P/E ratio of 78.49.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.10. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company posted $0.19 earnings per share. Facebook’s revenue was up 60.5% compared to the same quarter last year. Analysts expect that Facebook will post $1.62 EPS for the current fiscal year.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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