MoneyLion Inc. (NYSE:ML) Short Interest Up 79.3% in February

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 trading volume of 220,700 shares, the days-to-cover ratio is presently 3.7 days. Currently, 11.2% of the shares of the company are sold short.

Insider Buying and Selling at MoneyLion

In related news, CFO Richard Correia sold 3,502 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $85.76, for a total transaction of $300,331.52. Following the completion of the transaction, the chief financial officer now owns 182,570 shares of the company’s stock, valued at approximately $15,657,203.20. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timmie Hong sold 6,094 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $86.84, for a total transaction of $529,202.96. Following the completion of the sale, the insider now owns 86,015 shares in the company, valued at $7,469,542.60. This represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,403 shares of company stock valued at $5,245,538 in the last 90 days. 11.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Covestor Ltd boosted its stake in shares of MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of MoneyLion during the fourth quarter valued at about $29,000. MetLife Investment Management LLC increased its holdings in shares of MoneyLion by 12.6% in the fourth quarter. MetLife Investment Management LLC now owns 5,634 shares of the company’s stock worth $485,000 after buying an additional 629 shares during the period. FMR LLC lifted its stake in shares of MoneyLion by 154.6% in the 3rd quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after acquiring an additional 637 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of MoneyLion in the 4th quarter valued at about $67,000. 31.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

MoneyLion Stock Performance

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

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.