Blend Labs, Inc. (NYSE:BLND – Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 13,930,000 shares, a growth of 5.8% from the August 31st total of 13,170,000 shares. Based on an average trading volume of 3,520,000 shares, the days-to-cover ratio is presently 4.0 days. Approximately 7.4% of the shares of the company are short sold.
Blend Labs Stock Performance
Shares of NYSE:BLND opened at $3.58 on Wednesday. Blend Labs has a 52 week low of $1.14 and a 52 week high of $4.25. The company’s fifty day moving average is $3.50 and its 200-day moving average is $3.00. The company has a market capitalization of $903.51 million, a PE ratio of -6.17 and a beta of 1.15.
Blend Labs (NYSE:BLND – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $40.48 million for the quarter, compared to the consensus estimate of $39.50 million. Blend Labs had a negative net margin of 77.63% and a negative return on equity of 595.99%. On average, analysts forecast that Blend Labs will post -0.27 EPS for the current year.
Analyst Ratings Changes
View Our Latest Report on BLND
Insider Buying and Selling
In related news, insider Winnie Ling sold 20,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $3.33, for a total transaction of $66,600.00. Following the transaction, the insider now owns 286,416 shares of the company’s stock, valued at $953,765.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 34,303 shares of company stock valued at $124,326. 11.83% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new position in Blend Labs during the 2nd quarter worth about $31,000. Xponance Inc. acquired a new position in Blend Labs during the 2nd quarter worth about $35,000. Berylson Capital Partners LLC acquired a new position in Blend Labs during the 4th quarter worth about $52,000. Caxton Associates LP acquired a new position in Blend Labs during the 1st quarter worth about $60,000. Finally, Cannon Global Investment Management LLC acquired a new position in Blend Labs during the 1st quarter worth about $65,000. Institutional investors and hedge funds own 52.56% of the company’s stock.
About Blend Labs
Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.
Read More
- Five stocks we like better than Blend Labs
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Why Lennar Stock Could Be the Best Play in the Housing Market
- Do ETFs Pay Dividends? What You Need to Know
- 2 Energy Stocks Fueling the AI Datacenter Boom
- Why Are These Companies Considered Blue Chips?
- Will Marinus Pharmaceuticals Be the Next Big Winner in Biotech?
Receive News & Ratings for Blend Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blend Labs and related companies with MarketBeat.com's FREE daily email newsletter.