Short Interest in Getaround, Inc. (NYSE:GETR) Grows By 262.2%

Getaround, Inc. (NYSE:GETRGet Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 2,470,000 shares, an increase of 262.2% from the April 30th total of 682,000 shares. Currently, 5.4% of the company’s stock are short sold. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of Getaround

A hedge fund recently bought a new stake in Getaround stock. Madrona Venture Group LLC purchased a new stake in Getaround, Inc. (NYSE:GETRFree Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 506,342 shares of the company’s stock, valued at approximately $177,000. Getaround makes up 0.1% of Madrona Venture Group LLC’s investment portfolio, making the stock its 5th biggest holding. 59.64% of the stock is owned by institutional investors and hedge funds.

Getaround Price Performance

Getaround stock remained flat at $0.19 during mid-day trading on Wednesday. The company had a trading volume of 1,098,122 shares, compared to its average volume of 3,955,061. The business has a 50 day simple moving average of $0.23 and a two-hundred day simple moving average of $0.23. The company has a market capitalization of $17.38 million, a price-to-earnings ratio of -0.14 and a beta of 1.12. Getaround has a 1-year low of $0.14 and a 1-year high of $0.70. The company has a debt-to-equity ratio of 13.66, a current ratio of 0.43 and a quick ratio of 0.43.

Getaround (NYSE:GETRGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). The business had revenue of $17.16 million for the quarter, compared to the consensus estimate of $30.76 million. Getaround had a negative return on equity of 3,722.93% and a negative net margin of 155.92%. On average, sell-side analysts forecast that Getaround will post -0.76 earnings per share for the current year.

Getaround Company Profile

(Get Free Report)

Getaround, Inc operates as an online car rental service company for peer-to-peer car sharing. The company operates Getaround, a digital carsharing marketplace, which is accessed through the Getaround app and derives demand from guests who want access to cars nearby 24/7 for various use cases, such as local and long-distance getaways, running errands, business travel, and driving to earn through rideshare and delivery platforms.

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