SmileDirectClub (NASDAQ:SDC) Sees Significant Growth in Short Interest

SmileDirectClub (NASDAQ:SDC) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 35,690,000 shares, an increase of 13.4% from the January 15th total of 31,460,000 shares. Based on an average daily trading volume, of 8,363,300 shares, the short-interest ratio is currently 4.3 days. Approximately 47.1% of the company’s stock are sold short.

SDC stock opened at $12.83 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.54 and a quick ratio of 3.47. The company has a 50 day moving average price of $11.86. SmileDirectClub has a twelve month low of $7.56 and a twelve month high of $21.10.

SmileDirectClub (NASDAQ:SDC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.10. The business had revenue of $180.20 million during the quarter, compared to analyst estimates of $165.30 million. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. On average, sell-side analysts predict that SmileDirectClub will post -1.24 EPS for the current year.

Several research analysts have recently issued reports on the stock. Credit Suisse Group lowered their target price on shares of SmileDirectClub from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 price target on shares of SmileDirectClub in a research note on Friday. Craig Hallum began coverage on shares of SmileDirectClub in a research report on Monday, January 6th. They issued a “buy” rating and a $20.00 price target for the company. Loop Capital boosted their price target on shares of SmileDirectClub to and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, William Blair restated a “buy” rating on shares of SmileDirectClub in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. SmileDirectClub presently has a consensus rating of “Buy” and a consensus price target of $18.67.

In other SmileDirectClub news, Director Richard F. Wallman acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average price of $9.60 per share, for a total transaction of $115,200.00. Following the acquisition, the director now owns 26,000 shares in the company, valued at approximately $249,600. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

A number of large investors have recently modified their holdings of SDC. Signaturefd LLC purchased a new stake in SmileDirectClub during the 3rd quarter valued at approximately $65,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of SmileDirectClub in the 4th quarter valued at approximately $66,000. FNY Investment Advisers LLC increased its holdings in shares of SmileDirectClub by 36.6% in the fourth quarter. FNY Investment Advisers LLC now owns 32,000 shares of the company’s stock valued at $279,000 after purchasing an additional 8,576 shares during the period. Victory Capital Management Inc. acquired a new position in shares of SmileDirectClub in the fourth quarter valued at approximately $136,000. Finally, Exane Derivatives purchased a new stake in shares of SmileDirectClub during the fourth quarter worth approximately $151,000. Hedge funds and other institutional investors own 22.17% of the company’s stock.

About SmileDirectClub

SmileDirectClub, Inc operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. The company manages the end-to-end process, which include marketing, aligner manufacturing, fulfillment, treatment by a doctor, and monitoring through completion of their treatment proprietary with a network of approximately 240 state licensed orthodontists and general dentists through its teledentistry platform, SmileCheck.

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