Nextdoor Holdings, Inc. (NYSE:KIND) Short Interest Down 15.5% in May

Posted by on Jun 1st, 2022

Nextdoor Holdings, Inc. (NYSE:KIND – Get Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 6,480,000 shares, a decrease of 15.5% from the April 30th total of 7,670,000 shares. Based on an average trading volume of 1,850,000 shares, the short-interest ratio is presently 3.5 days. Approximately 8.3% of the company’s shares are short sold.

Shares of NYSE KIND opened at 2.84 on Wednesday. The company’s 50-day simple moving average is 4.51 and its 200-day simple moving average is 6.50. Nextdoor has a 52-week low of 2.47 and a 52-week high of 18.59.

Nextdoor (NYSE:KIND – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported -0.09 earnings per share for the quarter, topping the consensus estimate of -0.14 by 0.05. The business had revenue of 51.00 million during the quarter, compared to analysts’ expectations of 48.40 million. Research analysts predict that Nextdoor will post -0.3 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP increased its position in shares of Nextdoor by 261.4% during the first quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock valued at $29,000 after acquiring an additional 3,560 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Nextdoor during the fourth quarter valued at about $40,000. Penserra Capital Management LLC acquired a new stake in shares of Nextdoor during the fourth quarter valued at about $69,000. International Assets Investment Management LLC acquired a new position in shares of Nextdoor in the fourth quarter valued at approximately $79,000. Finally, AJ Wealth Strategies LLC acquired a new position in shares of Nextdoor in the fourth quarter valued at approximately $80,000.

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Nextdoor from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Tuesday, March 29th. Citigroup began coverage on shares of Nextdoor in a report on Tuesday, April 19th. They issued a “neutral” rating and a $6.50 price target for the company. Zacks Investment Research raised shares of Nextdoor from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Tuesday. Truist Financial began coverage on shares of Nextdoor in a report on Tuesday, March 29th. They issued a “hold” rating and a $7.00 price target for the company. Finally, The Goldman Sachs Group decreased their price target on shares of Nextdoor from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, April 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of 7.88.

Nextdoor Company Profile (Get Rating)

Nextdoor Holdings, Inc operates as the neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections.

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