Peloton Interactive, Inc. (NASDAQ:PTON) Short Interest Down 25.0% in March

Peloton Interactive, Inc. (NASDAQ:PTONGet Rating) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 29,690,000 shares, a decrease of 25.0% from the March 15th total of 39,600,000 shares. Based on an average daily volume of 24,070,000 shares, the short-interest ratio is currently 1.2 days.

Shares of NASDAQ PTON traded down $0.87 during mid-day trading on Monday, hitting $23.00. The company had a trading volume of 253,309 shares, compared to its average volume of 22,556,988. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.33 and a quick ratio of 1.29. The business’s 50-day simple moving average is $27.26 and its 200-day simple moving average is $43.16. Peloton Interactive has a 12 month low of $20.11 and a 12 month high of $129.70. The firm has a market cap of $7.63 billion, a P/E ratio of -6.42 and a beta of 0.97.

Peloton Interactive (NASDAQ:PTONGet Rating) last released its earnings results on Tuesday, February 8th. The company reported ($1.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.18) by ($0.21). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Peloton Interactive had a negative net margin of 27.48% and a negative return on equity of 59.67%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, sell-side analysts predict that Peloton Interactive will post -3.94 EPS for the current year.

In other news, COO Mariana Garavaglia sold 2,459 shares of the stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $31.99, for a total value of $78,663.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Lynch sold 6,250 shares of the stock in a transaction on Thursday, February 17th. The shares were sold at an average price of $32.49, for a total value of $203,062.50. The disclosure for this sale can be found here. Insiders sold 10,768 shares of company stock valued at $347,387 in the last 90 days. Corporate insiders own 13.18% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Psagot Value Holdings Ltd. bought a new position in Peloton Interactive during the third quarter worth about $30,000. Herold Advisors Inc. bought a new position in shares of Peloton Interactive in the third quarter valued at approximately $45,000. Eagle Bay Advisors LLC raised its stake in shares of Peloton Interactive by 84.5% in the third quarter. Eagle Bay Advisors LLC now owns 655 shares of the company’s stock valued at $57,000 after acquiring an additional 300 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of Peloton Interactive by 442.7% in the third quarter. Clearstead Advisors LLC now owns 673 shares of the company’s stock valued at $59,000 after acquiring an additional 549 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. bought a new position in shares of Peloton Interactive in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Several brokerages recently issued reports on PTON. Macquarie cut their price objective on Peloton Interactive from $85.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 9th. Zacks Investment Research upgraded Peloton Interactive from a “sell” rating to a “hold” rating in a report on Friday, February 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Peloton Interactive from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, February 9th. Wolfe Research increased their price objective on Peloton Interactive from $30.00 to $32.00 and gave the stock a “peer perform” rating in a report on Wednesday, February 9th. Finally, Credit Suisse Group increased their price objective on Peloton Interactive from $30.00 to $36.00 and gave the stock a “neutral” rating in a report on Wednesday, February 9th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.97.

About Peloton Interactive (Get Rating)

Peloton Interactive, Inc provides interactive fitness products in North America and internationally. It offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, and Peloton Tread+ names. The company also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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