Enjoy Technology, Inc. (NASDAQ:ENJY) Sees Large Drop in Short Interest

Posted by on May 28th, 2022

Enjoy Technology, Inc. (NASDAQ:ENJY – Get Rating) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 376,600 shares, a decline of 38.8% from the April 30th total of 615,200 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 430,600 shares, the short-interest ratio is currently 0.9 days.

Shares of NASDAQ ENJY traded up $0.03 during trading on Friday, hitting $0.27. The company had a trading volume of 3,200,342 shares, compared to its average volume of 387,647. The company has a market cap of $32.68 million, a P/E ratio of -0.12 and a beta of 3.19. Enjoy Technology has a 52 week low of $0.21 and a 52 week high of $12.16. The business’s 50-day moving average is $2.09 and its 200 day moving average is $3.53.

Enjoy Technology (NASDAQ:ENJY – Get Rating) last posted its quarterly earnings results on Wednesday, March 23rd. The company reported ($0.68) earnings per share (EPS) for the quarter. The business had revenue of $22.20 million during the quarter, compared to the consensus estimate of $25.60 million. As a group, equities research analysts expect that Enjoy Technology will post -1.29 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on ENJY shares. Zacks Investment Research downgraded Enjoy Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. Telsey Advisory Group downgraded Enjoy Technology from a “market perform” rating to an “underperform” rating in a research report on Tuesday, May 17th. Loop Capital dropped their target price on Enjoy Technology from $8.00 to $4.00 in a report on Friday, March 25th. BTIG Research cut Enjoy Technology from a “buy” rating to a “neutral” rating in a report on Thursday, April 14th. Finally, Stifel Nicolaus dropped their target price on Enjoy Technology from $6.00 to $0.50 in a report on Tuesday, May 17th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.50.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. King Street Capital Management L.P. bought a new position in shares of Enjoy Technology in the fourth quarter valued at $31,827,000. Oak Management Corp bought a new position in shares of Enjoy Technology in the fourth quarter valued at $24,322,000. Highland Management Partners 9 LLC bought a new position in shares of Enjoy Technology in the fourth quarter valued at $15,012,000. Tran Capital Management L.P. increased its holdings in shares of Enjoy Technology by 385.8% in the first quarter. Tran Capital Management L.P. now owns 2,639,928 shares of the company’s stock valued at $10,033,000 after buying an additional 2,096,497 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in Enjoy Technology during the 4th quarter valued at $11,050,000. 41.19% of the stock is currently owned by institutional investors.

Enjoy Technology Company Profile (Get Rating)

Enjoy Technology, Inc operates mobile retail stores in the United States, Canada, and the United Kingdom. It assists consumer in evaluating and selecting a range of accessories, media subscriptions, device protection, broadband, and other services. The company was founded in 2015 and is headquartered in Palo Alto, California.

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