Short Interest in Lyft, Inc. (NASDAQ:LYFT) Decreases By 21.8%

Lyft, Inc. (NASDAQ:LYFT) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 39,460,000 shares, a decrease of 21.8% from the November 15th total of 50,470,000 shares. Based on an average daily trading volume, of 14,050,000 shares, the days-to-cover ratio is currently 2.8 days.

Insider Buying and Selling at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total value of $27,439.68. Following the sale, the director now owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the sale, the chief accounting officer now directly owns 332,243 shares in the company, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,666 shares of company stock valued at $454,770. 3.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LYFT. True Wealth Design LLC bought a new position in shares of Lyft in the third quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in Lyft during the second quarter worth $35,000. Brown Brothers Harriman & Co. bought a new stake in Lyft during the second quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in Lyft during the third quarter worth $38,000. Finally, Quarry LP lifted its holdings in Lyft by 4,032.6% during the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 3,468 shares during the period. Institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LYFT. Bank of America raised their price target on Lyft from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Tigress Financial lifted their target price on Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Susquehanna lifted their target price on Lyft from $10.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Evercore ISI lifted their target price on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Barclays lifted their target price on Lyft from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.77.

Lyft Trading Down 4.8 %

Shares of NASDAQ LYFT traded down $0.71 during trading on Friday, reaching $14.14. The company had a trading volume of 16,037,705 shares, compared to its average volume of 15,085,147. The company’s fifty day moving average price is $15.32 and its 200-day moving average price is $13.58. Lyft has a 12 month low of $8.93 and a 12 month high of $20.82. The stock has a market cap of $5.87 billion, a P/E ratio of -88.38, a PEG ratio of 4.47 and a beta of 2.09. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. The business’s revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, research analysts expect that Lyft will post 0.08 earnings per share for the current year.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.