Lightspeed Commerce Inc. (NYSE:LSPD) Sees Large Decrease in Short Interest

Lightspeed Commerce Inc. (NYSE:LSPD) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 5,010,000 shares, a decline of 13.3% from the February 13th total of 5,780,000 shares. Based on an average daily volume of 771,000 shares, the days-to-cover ratio is presently 6.5 days. Approximately 3.6% of the company’s shares are short sold.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock traded up $0.13 during trading on Thursday, hitting $10.62. 272,607 shares of the company’s stock traded hands, compared to its average volume of 879,002. Lightspeed Commerce has a 1 year low of $10.20 and a 1 year high of $18.96. The business has a 50-day simple moving average of $13.20 and a 200-day simple moving average of $14.85. The stock has a market capitalization of $1.62 billion, a P/E ratio of -13.28, a PEG ratio of 3.03 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. As a group, analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Scotiabank cut their target price on shares of Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Friday, February 7th. Piper Sandler decreased their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. UBS Group dropped their price target on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays decreased their price objective on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.39.

Hedge Funds Weigh In On Lightspeed Commerce

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after acquiring an additional 1,025 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Lightspeed Commerce by 27.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock worth $158,000 after purchasing an additional 2,168 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Lightspeed Commerce in the fourth quarter worth approximately $165,000. Susquehanna Fundamental Investments LLC bought a new stake in Lightspeed Commerce during the fourth quarter valued at approximately $256,000. Finally, Twinbeech Capital LP purchased a new stake in Lightspeed Commerce during the fourth quarter valued at approximately $261,000. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.