MNTN Inc. (NYSE:MNTN) Short Interest Up 116.3% in June

MNTN Inc. (NYSE:MNTN) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,622,446 shares, an increase of 116.3% from the May 31st total of 749,966 shares. Based on an average daily volume of 1,150,316 shares, the short-interest ratio is presently 1.4 days. Currently, 3.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MNTN. Weiss Ratings raised shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded MNTN from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Raymond James Financial reissued an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research note on Wednesday, May 6th. Canaccord Genuity Group dropped their target price on MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Citizens Jmp reduced their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MNTN has an average rating of “Moderate Buy” and an average target price of $19.85.

Hedge Funds Weigh In On MNTN

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNTN. Aster Capital Management DIFC Ltd purchased a new stake in shares of MNTN in the 4th quarter worth about $43,000. Los Angeles Capital Management LLC bought a new stake in MNTN during the fourth quarter worth about $53,000. Royal Bank of Canada grew its holdings in MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after purchasing an additional 5,590 shares during the period. JPMorgan Chase & Co. purchased a new stake in MNTN in the third quarter worth about $86,000. Finally, Barclays PLC increased its stake in shares of MNTN by 2,341.4% during the fourth quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after purchasing an additional 8,944 shares in the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

MNTN Trading Up 18.1%

Shares of MNTN opened at $10.86 on Thursday. MNTN has a 1-year low of $7.67 and a 1-year high of $32.00. The firm’s 50-day moving average price is $9.01 and its 200-day moving average price is $9.78. The firm has a market capitalization of $662.75 million, a price-to-earnings ratio of -362.10 and a beta of 0.80.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). MNTN had a return on equity of 16.44% and a net margin of 7.84%.The company had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $72.63 million. During the same quarter last year, the business earned ($1.41) earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts forecast that MNTN will post 0.99 EPS for the current fiscal year.

About MNTN

MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.

The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.

Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.