Hippo Holdings Inc. (NYSE:HIPO – Get Rating) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 9,120,000 shares, an increase of 27.9% from the June 30th total of 7,130,000 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 2,900,000 shares, the days-to-cover ratio is currently 3.1 days.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group reduced their price target on Hippo from $5.40 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, April 5th.
Hippo Price Performance
Hippo stock traded down $0.01 during mid-day trading on Monday, hitting $0.85. 47,929 shares of the company’s stock traded hands, compared to its average volume of 2,648,240. The firm has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $1.59. Hippo has a fifty-two week low of $0.73 and a fifty-two week high of $10.82. The stock has a market cap of $482.89 million, a price-to-earnings ratio of -0.14 and a beta of 0.87.
Hippo (NYSE:HIPO – Get Rating) last posted its quarterly earnings data on Friday, May 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $29.00 million. Hippo had a negative return on equity of 37.80% and a negative net margin of 246.66%. On average, research analysts anticipate that Hippo will post -0.48 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
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Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Hippo by 14.5% in the fourth quarter. Northern Trust Corp now owns 750,910 shares of the company’s stock worth $2,125,000 after purchasing an additional 94,931 shares during the period. Vivaldi Capital Management LP bought a new position in shares of Hippo in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Hippo in the fourth quarter worth $12,098,000. Ieq Capital LLC bought a new position in shares of Hippo in the fourth quarter worth $184,000. Finally, Kamunting Street Capital Management L.P. bought a new position in shares of Hippo in the fourth quarter worth $1,847,000. Institutional investors own 35.23% of the company’s stock.
Hippo Company Profile
Hippo Holdings Inc provides home protection insurance in the United States and the District of Columbia. Its insurance products include homeowners’ insurance against risks of fire, wind, and theft; and commercial and personal lines of products. The company distributes insurance products and services through its technology platform; and offers its policies online, over the phone, or through licensed insurance agents.
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