Giftify, Inc. (NASDAQ:GIFT) Shares Shorted: Short Interest Up 144.5% in September

Giftify, Inc. (NASDAQ:GIFT) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 51,789 shares, an increase of 144.5% from the September 15th total of 21,179 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 69,976 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

GIFT has been the subject of a number of recent analyst reports. Zacks Research raised Giftify to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Giftify in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Giftify currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Giftify

Institutional investors have recently modified their holdings of the business. Henrickson Nauta Wealth Advisors Inc. acquired a new position in Giftify in the first quarter valued at approximately $142,000. Elevation Point Wealth Partners LLC bought a new position in Giftify in the first quarter valued at approximately $100,000. Finally, BlackRock Inc. bought a new position in Giftify in the second quarter valued at approximately $82,000.

Giftify Trading Up 15.4%

GIFT stock traded up $0.09 during midday trading on Wednesday, reaching $0.66. The stock had a trading volume of 231,674 shares, compared to its average volume of 299,722. The business has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $0.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.02 and a quick ratio of 0.58. Giftify has a twelve month low of $0.44 and a twelve month high of $1.29.

Giftify (NASDAQ:GIFT) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. Giftify had a negative return on equity of 39.87% and a negative net margin of 10.32%. The firm had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $20.20 million. As a group, sell-side analysts predict that Giftify will post -0.13 earnings per share for the current fiscal year.

Giftify Company Profile

Giftify, Inc is a technology company that provides digital gift card and customer engagement solutions for shopping centers, retail destinations and other commercial properties. Its platform is designed to help property owners and merchants offer branded gifting programs while supporting customer acquisition, retention and spending across participating locations.

The company’s services include digital and physical gift card programs, promotional campaigns, loyalty and rewards features, and related tools for managing transactions and customer engagement.