Eventbrite, Inc. (NYSE:EB) Short Interest Up 24.3% in March

Eventbrite, Inc. (NYSE:EB) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 3,940,000 shares, an increase of 24.3% from the February 28th total of 3,170,000 shares. Approximately 5.2% of the company’s stock are sold short. Based on an average trading volume of 1,050,000 shares, the short-interest ratio is currently 3.8 days.

Institutional Investors Weigh In On Eventbrite

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Eventbrite in the 3rd quarter worth $25,000. Pallas Capital Advisors LLC purchased a new position in Eventbrite in the fourth quarter worth approximately $37,000. Paloma Partners Management Co acquired a new position in Eventbrite in the third quarter valued at about $44,000. RPO LLC acquired a new stake in Eventbrite in the 4th quarter valued at approximately $55,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Eventbrite in the fourth quarter valued at $66,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and set a $3.50 price objective (down previously from $5.00) on shares of Eventbrite in a research report on Friday, February 28th. BWS Financial restated a “buy” rating and set a $7.00 target price on shares of Eventbrite in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.40.

Eventbrite Stock Down 0.5 %

Eventbrite stock traded down $0.01 during midday trading on Wednesday, reaching $2.12. The company’s stock had a trading volume of 677,597 shares, compared to its average volume of 1,536,732. The stock has a market capitalization of $200.61 million, a P/E ratio of -23.56 and a beta of 2.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. Eventbrite has a 52-week low of $2.05 and a 52-week high of $5.98. The stock’s 50-day simple moving average is $2.85 and its 200-day simple moving average is $3.14.

About Eventbrite

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, enhance reach, and drive ticket sales.