Peloton (NASDAQ:PTON) Short Interest Update

Peloton (NASDAQ:PTON) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 10,550,000 shares, a growth of 42.4% from the August 31st total of 7,410,000 shares. Currently, 4.6% of the shares of the stock are short sold. Based on an average trading volume of 15,710,000 shares, the short-interest ratio is currently 0.7 days.

PTON has been the topic of several analyst reports. Roth Capital boosted their target price on Peloton from $66.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, September 11th. ValuEngine cut shares of Peloton from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Needham & Company LLC upped their price target on shares of Peloton from $65.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 11th. Stifel Nicolaus increased their price objective on shares of Peloton from $72.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Finally, BidaskClub upgraded Peloton from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $95.79.

Shares of NASDAQ PTON traded up $5.96 during trading hours on Thursday, hitting $105.20. 26,707,029 shares of the stock were exchanged, compared to its average volume of 11,647,315. Peloton has a 12 month low of $17.70 and a 12 month high of $105.74. The firm has a fifty day moving average price of $80.17 and a 200-day moving average price of $54.07. The company has a quick ratio of 2.96, a current ratio of 3.32 and a debt-to-equity ratio of 0.33. The company has a market cap of $28.65 billion and a PE ratio of -73.98.

Peloton (NASDAQ:PTON) last released its quarterly earnings results on Thursday, September 10th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.17. The business had revenue of $607.10 million for the quarter, compared to analyst estimates of $579.67 million. Peloton had a negative net margin of 3.93% and a negative return on equity of 4.64%. The business’s revenue for the quarter was up 171.9% on a year-over-year basis. During the same period in the previous year, the company earned ($2.07) earnings per share. As a group, equities analysts anticipate that Peloton will post -0.14 earnings per share for the current fiscal year.

In other news, insider Mariana Garavaglia sold 4,688 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $97.09, for a total value of $455,157.92. Following the sale, the insider now directly owns 5,789 shares in the company, valued at approximately $562,054.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hisao Kushi sold 132,890 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $80.83, for a total transaction of $10,741,498.70. The disclosure for this sale can be found here. Insiders have sold a total of 771,287 shares of company stock worth $62,481,171 over the last ninety days.

A number of institutional investors have recently added to or reduced their stakes in PTON. Pathstone Family Office LLC acquired a new position in shares of Peloton during the first quarter valued at about $27,000. Glassman Wealth Services grew its position in Peloton by 615.4% during the 2nd quarter. Glassman Wealth Services now owns 465 shares of the company’s stock worth $27,000 after purchasing an additional 400 shares during the last quarter. Trustcore Financial Services LLC acquired a new position in Peloton during the 2nd quarter valued at approximately $38,000. Parkside Financial Bank & Trust acquired a new position in Peloton during the 2nd quarter valued at approximately $42,000. Finally, Edge Wealth Management LLC lifted its stake in shares of Peloton by 1,574.0% during the second quarter. Edge Wealth Management LLC now owns 837 shares of the company’s stock worth $48,000 after buying an additional 787 shares during the period. Institutional investors own 59.54% of the company’s stock.

Peloton Company Profile

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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