Short Interest in NVIDIA Co. (NVDA) Grows By 29.2%

NVIDIA Co. (NASDAQ:NVDA) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 15,362,310 shares, an increase of 29.2% from the August 15th total of 11,887,698 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 15,686,184 shares, the short-interest ratio is presently 1.0 days.

NASDAQ NVDA opened at $271.34 on Friday. The firm has a market cap of $165.86 billion, a P/E ratio of 58.10, a P/E/G ratio of 3.58 and a beta of 1.62. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. NVIDIA has a fifty-two week low of $167.80 and a fifty-two week high of $285.22.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.28. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. NVIDIA’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. equities research analysts anticipate that NVIDIA will post 7.15 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Thursday, August 30th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.22%. NVIDIA’s dividend payout ratio (DPR) is presently 12.85%.

In other NVIDIA news, CFO Colette Kress sold 889 shares of the stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harvey C. Jones sold 100,000 shares of the stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total value of $24,211,000.00. Following the sale, the director now owns 31,725 shares in the company, valued at $7,680,939.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,932 shares of company stock worth $24,452,088. Company insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kwmg LLC bought a new stake in NVIDIA during the second quarter valued at about $105,000. Legacy Financial Advisors Inc. raised its holdings in NVIDIA by 111.0% during the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after acquiring an additional 233 shares during the period. Bruderman Asset Management LLC bought a new stake in NVIDIA during the first quarter valued at about $127,000. Almanack Investment Partners LLC. bought a new stake in NVIDIA during the second quarter valued at about $127,000. Finally, Ropes Wealth Advisors LLC raised its holdings in NVIDIA by 561.8% during the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after acquiring an additional 500 shares during the period. Institutional investors own 65.68% of the company’s stock.

NVDA has been the topic of several recent analyst reports. UBS Group upgraded NVIDIA from a “market perform” rating to an “outperform” rating in a research note on Friday, August 17th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $265.00 price target on shares of NVIDIA in a research note on Friday, August 17th. BidaskClub upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Wells Fargo & Co upgraded NVIDIA from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $140.00 to $315.00 in a research note on Tuesday, August 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 price target on shares of NVIDIA in a research note on Friday, August 17th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $281.58.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

See Also: Intrinsic Value

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