Traders Buy Large Volume of Lyft Call Options (NASDAQ:LYFT)

Lyft, Inc. (NASDAQ:LYFTGet Rating) saw some unusual options trading on Tuesday. Stock traders acquired 151,001 call options on the stock. This represents an increase of 150% compared to the typical daily volume of 60,419 call options.

Institutional Trading of Lyft

A number of large investors have recently made changes to their positions in LYFT. MCF Advisors LLC bought a new stake in shares of Lyft in the 1st quarter valued at $25,000. Clearstead Advisors LLC boosted its stake in Lyft by 58.9% in the 2nd quarter. Clearstead Advisors LLC now owns 1,845 shares of the ride-sharing company’s stock worth $25,000 after purchasing an additional 684 shares during the period. Elequin Capital LP acquired a new position in Lyft in the 1st quarter worth $26,000. Wipfli Financial Advisors LLC acquired a new position in Lyft in the 3rd quarter worth $26,000. Finally, Fifth Third Bancorp boosted its stake in Lyft by 261.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,344 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,696 shares during the period. Institutional investors own 76.49% of the company’s stock.

Lyft Price Performance

LYFT opened at $11.05 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Lyft has a 12 month low of $10.43 and a 12 month high of $46.64. The company has a fifty day simple moving average of $13.51 and a 200 day simple moving average of $15.14. The stock has a market cap of $3.99 billion, a P/E ratio of -3.09 and a beta of 1.68.

Analysts Set New Price Targets

Several research analysts have recently commented on LYFT shares. Atlantic Securities reduced their target price on Lyft to $14.00 in a report on Tuesday, November 15th. The Goldman Sachs Group reduced their target price on Lyft to $20.00 in a report on Tuesday, November 15th. Credit Suisse Group reduced their target price on Lyft from $46.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Gordon Haskett raised Lyft from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Wednesday, October 12th. Finally, Stifel Nicolaus boosted their target price on Lyft from $18.00 to $19.00 in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Lyft presently has a consensus rating of “Hold” and a consensus target price of $27.59.

Lyft Company Profile

(Get Rating)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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