Lyft, Inc. (NASDAQ:LYFT – Get 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
Lyft Company Profile
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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