Vivint Smart Home, Inc. (NYSE:VVNT) saw a significant decline in short interest in the month of February. As of February 12th, there was short interest totalling 1,460,000 shares, a decline of 18.0% from the January 28th total of 1,780,000 shares. Based on an average daily volume of 348,300 shares, the days-to-cover ratio is currently 4.2 days. Currently, 4.0% of the shares of the company are short sold.
Shares of Vivint Smart Home stock opened at $14.64 on Tuesday. Vivint Smart Home has a 52-week low of $8.51 and a 52-week high of $32.00. The company’s 50-day simple moving average is $18.72 and its 200-day simple moving average is $19.31. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 104.57 and a beta of 0.41.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Vivint Smart Home from a “sell” rating to a “hold” rating in a research note on Tuesday, March 2nd. Morgan Stanley boosted their price target on shares of Vivint Smart Home from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Vivint Smart Home from $24.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, February 25th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.29.
A number of institutional investors and hedge funds have recently modified their holdings of VVNT. Envestnet Asset Management Inc. acquired a new position in Vivint Smart Home during the third quarter worth about $227,000. Nisa Investment Advisors LLC acquired a new position in Vivint Smart Home during the third quarter worth about $35,000. Alps Advisors Inc. acquired a new position in Vivint Smart Home during the third quarter worth about $1,127,000. American International Group Inc. grew its position in Vivint Smart Home by 2.1% during the third quarter. American International Group Inc. now owns 43,565 shares of the company’s stock worth $744,000 after buying an additional 897 shares during the period. Finally, California Public Employees Retirement System grew its position in Vivint Smart Home by 8.0% during the third quarter. California Public Employees Retirement System now owns 166,793 shares of the company’s stock worth $2,849,000 after buying an additional 12,415 shares during the period. Institutional investors own 78.83% of the company’s stock.
About Vivint Smart Home
Vivint Smart Home, Inc, together with its subsidiaries, engages in the sale, installation, servicing, and monitoring of smart home and security systems primarily in the United States and Canada. The company’s smart home platform includes cloud-enabled smart home operating systems; Vivint Assist, an AI-driven smart home automation and assistance software; software-enabled smart home devices; and tech-enabled services to educate, manage, and support the smart home.
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