MoneyLion Inc. (NYSE:ML) Sees Significant Increase in Short Interest

MoneyLion Inc. (NYSE:ML) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 814,600 shares, a growth of 79.3% from the February 13th total of 454,300 shares. Based on an average daily trading volume, of 220,700 shares, the short-interest ratio is currently 3.7 days. Currently, 11.2% of the shares of the company are sold short.

Insider Activity

In other MoneyLion news, insider Timmie Hong sold 6,094 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $86.84, for a total value of $529,202.96. Following the sale, the insider now directly owns 86,015 shares in the company, valued at approximately $7,469,542.60. This trade represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard Correia sold 3,502 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $85.76, for a total transaction of $300,331.52. Following the transaction, the chief financial officer now owns 182,570 shares of the company’s stock, valued at $15,657,203.20. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,403 shares of company stock valued at $5,245,538. Company insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in MoneyLion in the 4th quarter valued at about $29,000. Covestor Ltd lifted its stake in MoneyLion by 63.6% during the third quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in MoneyLion during the fourth quarter valued at approximately $67,000. Point72 DIFC Ltd bought a new stake in MoneyLion during the third quarter worth approximately $40,000. Finally, KLP Kapitalforvaltning AS acquired a new position in MoneyLion in the fourth quarter worth approximately $86,000. Institutional investors own 31.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ML shares. B. Riley lowered shares of MoneyLion from a “buy” rating to a “neutral” rating and dropped their price target for the company from $133.00 to $90.00 in a research note on Wednesday, February 26th. Lake Street Capital restated a “hold” rating and issued a $82.00 target price (down from $109.00) on shares of MoneyLion in a research report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of MoneyLion in a research note on Friday, March 7th. Finally, Northland Securities increased their price target on MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.83.

MoneyLion Stock Up 0.0 %

ML traded up $0.00 during trading on Friday, reaching $86.22. The stock had a trading volume of 59,703 shares, compared to its average volume of 211,003. MoneyLion has a 1-year low of $36.65 and a 1-year high of $106.82. The firm has a market capitalization of $976.02 million, a price-to-earnings ratio of 391.91 and a beta of 3.04. The stock has a 50 day moving average of $86.71 and a two-hundred day moving average of $70.66.

About MoneyLion

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.