Redfin Corp (NASDAQ:RDFN) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,908,637 shares, a growth of 104.3% from the August 15th total of 1,423,467 shares. Currently, 8.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,298,145 shares, the days-to-cover ratio is presently 2.2 days.

In related news, major shareholder Tiger Global Management Llc acquired 260,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average price of $15.00 per share, with a total value of $3,900,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

RDFN has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) initiated coverage on Redfin Corp in a research note on Tuesday, August 22nd. They issued a “neutral” rating and a $20.00 price objective on the stock. Royal Bank Of Canada initiated coverage on Redfin Corp in a research note on Tuesday, August 22nd. They issued a “sector perform” rating and a $28.00 price objective on the stock. Stifel Nicolaus initiated coverage on Redfin Corp in a research note on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price objective on the stock. Bank of America Corporation reaffirmed a “neutral” rating and issued a $28.00 price objective on shares of Redfin Corp in a research note on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. initiated coverage on Redfin Corp in a research note on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $27.00.

Shares of Redfin Corp (NASDAQ:RDFN) opened at 26.53 on Friday. Redfin Corp has a 52-week low of $19.29 and a 52-week high of $33.49. The stock’s market cap is $1.87 billion. The company’s 50 day moving average price is $25.61 and its 200 day moving average price is $24.84.

Redfin Corp (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, September 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $104.90 million during the quarter, compared to analyst estimates of $104.78 million. Redfin Corp’s revenue was up 35.0% on a year-over-year basis. On average, analysts anticipate that Redfin Corp will post ($0.17) earnings per share for the current year.

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About Redfin Corp

Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.

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