NVIDIA Corporation (NVDA) Short Interest Down 17.5% in September
NVIDIA Corporation (NASDAQ:NVDA) was the recipient of a large drop in short interest during the month of September. As of September 29th, there was short interest totalling 14,755,916 shares, a drop of 17.5% from the September 15th total of 17,880,570 shares. Based on an average daily trading volume, of 21,567,790 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.6% of the company’s shares are sold short.
Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 191.03 on Friday. The company has a 50 day moving average price of $175.31 and a 200-day moving average price of $147.71. The stock has a market capitalization of $114.62 billion, a P/E ratio of 54.94 and a beta of 1.28. NVIDIA Corporation has a 52-week low of $65.52 and a 52-week high of $193.09.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.53 EPS. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. On average, analysts predict that NVIDIA Corporation will post $3.64 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on NVDA. Bank of America Corporation set a $210.00 price objective on NVIDIA Corporation and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada lifted their price objective on NVIDIA Corporation from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. B. Riley restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA Corporation in a research note on Tuesday. Goldman Sachs Group, Inc. (The) raised their target price on NVIDIA Corporation from $193.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Vetr upgraded NVIDIA Corporation from a “hold” rating to a “buy” rating and set a $196.86 target price for the company in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $157.88.
In other news, insider Jen Hsun Huang sold 110,000 shares of NVIDIA Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total value of $18,268,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Byron sold 409 shares of NVIDIA Corporation stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $171.01, for a total value of $69,943.09. Following the completion of the sale, the insider now owns 136,199 shares in the company, valued at $23,291,390.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 452,784 shares of company stock worth $81,437,724. Corporate insiders own 5.82% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NVDA. Evercore Wealth Management LLC lifted its stake in NVIDIA Corporation by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 206 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in NVIDIA Corporation in the 2nd quarter worth approximately $116,000. Proficio Capital Partners LLC lifted its stake in NVIDIA Corporation by 186.1% in the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after purchasing an additional 547 shares in the last quarter. Thompson Davis & CO. Inc. lifted its stake in NVIDIA Corporation by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after purchasing an additional 6 shares in the last quarter. Finally, Hanson McClain Inc. lifted its stake in NVIDIA Corporation by 12.7% in the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock worth $127,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 65.79% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “NVIDIA Corporation (NVDA) Short Interest Down 17.5% in September” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/13/nvidia-corporation-nvda-short-interest-down-17-5-in-september.html.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
Receive News & Ratings for NVIDIA Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA Corporation and related companies with MarketBeat.com's FREE daily email newsletter.