Short Interest in Carvana Co. (NYSE:CVNA) Rises By 7.9%

Carvana Co. (NYSE:CVNAGet Rating) was the target of a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 54,100,000 shares, an increase of 7.9% from the December 15th total of 50,130,000 shares. Based on an average trading volume of 20,320,000 shares, the days-to-cover ratio is presently 2.7 days.

Carvana Stock Up 1.7 %

Carvana stock opened at $6.49 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -0.73 and a beta of 2.41. The stock has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $19.77. Carvana has a 12 month low of $3.55 and a 12 month high of $167.00. The company has a current ratio of 2.38, a quick ratio of 1.01 and a debt-to-equity ratio of 17.69.

Carvana (NYSE:CVNAGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($2.67) EPS for the quarter, missing analysts’ consensus estimates of ($2.02) by ($0.65). Carvana had a negative return on equity of 191.74% and a negative net margin of 5.99%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.64 billion. Equities analysts predict that Carvana will post -9.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cowen cut Carvana from an “outperform” rating to a “market perform” rating in a report on Monday, November 21st. Needham & Company LLC cut Carvana from a “buy” rating to a “hold” rating in a research note on Friday, December 9th. Truist Financial cut Carvana from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Citigroup restated a “neutral” rating on shares of Carvana in a research note on Tuesday, December 13th. Finally, JPMorgan Chase & Co. upgraded Carvana from an “underweight” rating to a “neutral” rating and set a $20.00 target price for the company in a research note on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.65.

Insider Buying and Selling

In related news, insider Daniel J. Gill purchased 133,000 shares of Carvana stock in a transaction that occurred on Monday, November 21st. The shares were acquired at an average cost of $7.62 per share, for a total transaction of $1,013,460.00. Following the transaction, the insider now directly owns 263,415 shares in the company, valued at $2,007,222.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, Director Michael E. Maroone acquired 100,000 shares of the company’s stock in a transaction on Monday, November 7th. The stock was acquired at an average price of $8.61 per share, for a total transaction of $861,000.00. Following the acquisition, the director now owns 154,392 shares in the company, valued at approximately $1,329,315.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill acquired 133,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was acquired at an average price of $7.62 per share, with a total value of $1,013,460.00. Following the acquisition, the insider now owns 263,415 shares in the company, valued at approximately $2,007,222.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 251,000 shares of company stock worth $2,065,760 in the last ninety days. 10.70% of the stock is owned by insiders.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Carvana by 17.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock worth $230,000 after acquiring an additional 280 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Carvana by 21.4% in the first quarter. Mackenzie Financial Corp now owns 2,428 shares of the company’s stock worth $290,000 after acquiring an additional 428 shares during the period. US Bancorp DE grew its holdings in shares of Carvana by 29.6% in the second quarter. US Bancorp DE now owns 2,133 shares of the company’s stock worth $48,000 after acquiring an additional 487 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Carvana in the first quarter worth $59,000. Finally, Carnegie Capital Asset Management LLC bought a new stake in shares of Carvana in the second quarter worth $241,000. Institutional investors own 63.62% of the company’s stock.

Carvana Company Profile

(Get Rating)

Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.

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