Short Interest in NVIDIA Co. (NVDA) Declines By 24.5%

NVIDIA Co. (NASDAQ:NVDA) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 14,005,217 shares, a decrease of 24.5% from the January 15th total of 18,562,030 shares. Based on an average daily volume of 23,212,703 shares, the short-interest ratio is presently 0.6 days. Currently, 2.5% of the company’s stock are sold short.

Several brokerages recently commented on NVDA. Goldman Sachs Group raised NVIDIA from a “buy” rating to a “conviction-buy” rating and reduced their price target for the company from $324.00 to $305.00 in a research report on Thursday, October 18th. UBS Group dropped their price objective on NVIDIA from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 23rd. BidaskClub lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Morgan Stanley dropped their price objective on NVIDIA from $273.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, November 8th. Finally, Benchmark dropped their price objective on NVIDIA from $310.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $213.97.

Shares of NASDAQ NVDA opened at $146.45 on Tuesday. The company has a market cap of $90.38 billion, a PE ratio of 31.36, a PEG ratio of 2.98 and a beta of 1.93. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.20 and a current ratio of 7.08. NVIDIA has a 1-year low of $124.46 and a 1-year high of $292.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.06). NVIDIA had a return on equity of 51.60% and a net margin of 37.78%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.24 billion. Equities research analysts predict that NVIDIA will post 5.77 earnings per share for the current year.

In related news, EVP Debora Shoquist sold 6,345 shares of the stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $135.33, for a total transaction of $858,668.85. Following the completion of the transaction, the executive vice president now directly owns 177,911 shares of the company’s stock, valued at $24,076,695.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 889 shares of the stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $147.91, for a total value of $131,491.99. Following the transaction, the chief financial officer now directly owns 259,912 shares of the company’s stock, valued at $38,443,583.92. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Wellington Shields & Co. LLC increased its stake in NVIDIA by 17.9% during the 4th quarter. Wellington Shields & Co. LLC now owns 2,300 shares of the computer hardware maker’s stock worth $307,000 after acquiring an additional 350 shares during the period. Cito Capital Group LLC increased its stake in NVIDIA by 131.3% during the 4th quarter. Cito Capital Group LLC now owns 7,400 shares of the computer hardware maker’s stock worth $988,000 after acquiring an additional 4,200 shares during the period. State of Tennessee Treasury Department increased its stake in NVIDIA by 12.1% during the 4th quarter. State of Tennessee Treasury Department now owns 214,988 shares of the computer hardware maker’s stock worth $28,700,000 after acquiring an additional 23,253 shares during the period. Moloney Securities Asset Management LLC increased its stake in NVIDIA by 18.9% during the 4th quarter. Moloney Securities Asset Management LLC now owns 3,020 shares of the computer hardware maker’s stock worth $403,000 after acquiring an additional 480 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in NVIDIA by 47.0% during the 4th quarter. Rafferty Asset Management LLC now owns 187,892 shares of the computer hardware maker’s stock worth $25,084,000 after acquiring an additional 60,039 shares during the period. Hedge funds and other institutional investors own 71.44% of the company’s stock.

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About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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