BuzzFeed, Inc. (NASDAQ:BZFD) Sees Significant Drop in Short Interest

BuzzFeed, Inc. (NASDAQ:BZFD) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 1,334,184 shares, a decline of 15.7% from the December 31st total of 1,582,619 shares. Based on an average trading volume of 357,062 shares, the days-to-cover ratio is presently 3.7 days. Currently, 4.5% of the shares of the company are sold short. Currently, 4.5% of the shares of the company are sold short. Based on an average trading volume of 357,062 shares, the days-to-cover ratio is presently 3.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in BuzzFeed by 1,615.5% during the fourth quarter. Bank of America Corp DE now owns 14,136 shares of the company’s stock valued at $38,000 after purchasing an additional 13,312 shares in the last quarter. Founders Financial Securities LLC increased its position in shares of BuzzFeed by 29.6% during the 3rd quarter. Founders Financial Securities LLC now owns 61,545 shares of the company’s stock valued at $105,000 after purchasing an additional 14,045 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of BuzzFeed during the 2nd quarter valued at about $33,000. Blair William & Co. IL purchased a new position in shares of BuzzFeed during the 3rd quarter valued at about $29,000. Finally, XTX Topco Ltd bought a new stake in BuzzFeed in the 2nd quarter worth approximately $37,000. 37.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen lowered BuzzFeed from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Craig Hallum cut BuzzFeed from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a report on Friday, November 21st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BuzzFeed in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $1.00.

BuzzFeed Stock Performance

Shares of BZFD opened at $0.86 on Wednesday. BuzzFeed has a 12-month low of $0.83 and a 12-month high of $2.72. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market cap of $32.07 million, a PE ratio of -86,190.00 and a beta of 3.42. The stock has a 50-day moving average price of $0.95 and a 200-day moving average price of $1.48.

BuzzFeed (NASDAQ:BZFD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.14). BuzzFeed had a negative return on equity of 38.20% and a net margin of 0.06%.The company had revenue of $46.32 million during the quarter, compared to the consensus estimate of $54.65 million.

About BuzzFeed

BuzzFeed, Inc operates as a digital media and technology company specializing in news, entertainment, and social content. The company produces articles, videos and quizzes that target diverse audiences across web, mobile and social platforms. In addition to editorial content, BuzzFeed offers a suite of advertising solutions, including native advertising, branded content and programmatic display, designed to blend seamlessly with its editorial offerings and engage consumers at scale.

Founded in 2006 by Jonah Peretti and John S.