Short Interest in Domo, Inc. (NASDAQ:DOMO) Increases By 6.0%

Domo, Inc. (NASDAQ:DOMO) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,290,000 shares, an increase of 6.0% from the August 31st total of 2,160,000 shares. Currently, 7.3% of the shares of the company are sold short. Based on an average daily volume of 356,400 shares, the days-to-cover ratio is presently 6.4 days.

Domo Stock Performance

Domo stock opened at $7.14 on Wednesday. The business’s fifty day moving average is $7.62 and its two-hundred day moving average is $7.68. Domo has a 52 week low of $6.11 and a 52 week high of $12.23. The firm has a market cap of $272.38 million, a P/E ratio of -3.40 and a beta of 2.44.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, August 29th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21. The company had revenue of $78.41 million during the quarter, compared to the consensus estimate of $76.60 million. During the same period in the prior year, the firm posted ($0.44) earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Domo will post -2.31 earnings per share for the current year.

Insider Activity at Domo

In related news, CFO David R. Jolley acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $6.99 per share, for a total transaction of $69,900.00. Following the acquisition, the chief financial officer now owns 291,465 shares in the company, valued at approximately $2,037,340.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 14.04% of the company’s stock.

Hedge Funds Weigh In On Domo

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Domo by 4.1% during the 4th quarter. BNP Paribas Financial Markets now owns 43,707 shares of the company’s stock worth $450,000 after purchasing an additional 1,704 shares during the last quarter. Aristides Capital LLC bought a new position in Domo in the fourth quarter valued at approximately $274,000. Sierra Summit Advisors LLC acquired a new stake in Domo during the 4th quarter worth $938,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Domo during the 1st quarter valued at $43,000. Finally, GSA Capital Partners LLP lifted its stake in shares of Domo by 192.5% in the 1st quarter. GSA Capital Partners LLP now owns 193,106 shares of the company’s stock valued at $1,723,000 after purchasing an additional 127,091 shares during the period. Institutional investors and hedge funds own 76.64% of the company’s stock.

Analyst Ratings Changes

DOMO has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Domo in a research note on Friday, August 30th. DA Davidson boosted their price target on Domo from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, TD Cowen increased their price objective on Domo from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.60.

About Domo

Domo, Inc, together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Its platform digitally connects from the chief executive officer to the frontline employee with the various people, data, and systems in an organization, as well as giving them access to real-time data and insights, and allowing them to manage business via various browsers and visualization engines accessible across laptops, TV screens, monitors, tablets, and smartphones.