Short Interest in Hippo Holdings Inc. (NYSE:HIPO) Decreases By 19.8%

Hippo Holdings Inc. (NYSE:HIPOGet Rating) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,400,000 shares, a drop of 19.8% from the May 15th total of 4,240,000 shares. Based on an average daily trading volume, of 2,200,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.3% of the shares of the company are short sold.

Several research analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on Hippo from $5.40 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 5th. Morgan Stanley cut their target price on Hippo from $4.60 to $3.76 and set an “overweight” rating for the company in a research report on Tuesday, March 15th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. ETF Managers Group LLC bought a new position in shares of Hippo in the fourth quarter worth about $25,000. Texas Capital Bank Wealth Management Services Inc. bought a new position in shares of Hippo in the fourth quarter worth about $28,000. Vivaldi Capital Management LP bought a new position in shares of Hippo in the fourth quarter worth about $28,000. IPG Investment Advisors LLC bought a new position in shares of Hippo in the fourth quarter worth about $32,000. Finally, Royal Bank of Canada bought a new position in shares of Hippo in the first quarter worth about $34,000. Hedge funds and other institutional investors own 35.23% of the company’s stock.

HIPO stock traded up $0.05 during mid-day trading on Friday, reaching $0.95. 2,306,514 shares of the stock traded hands, compared to its average volume of 2,367,500. Hippo has a one year low of $0.88 and a one year high of $10.82. The stock has a market capitalization of $537.94 million, a PE ratio of -0.15 and a beta of 0.22. The business has a 50-day moving average price of $1.54 and a two-hundred day moving average price of $2.04.

Hippo (NYSE:HIPOGet Rating) last posted its quarterly earnings data on Friday, May 13th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). Hippo had a negative net margin of 246.66% and a negative return on equity of 37.80%. The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $29.00 million. As a group, equities analysts anticipate that Hippo will post -0.53 earnings per share for the current year.

Hippo Company Profile (Get Rating)

Hippo Holdings Inc provides home protection insurance in the United States and the District of Columbia. Its insurance products include homeowners' insurance against risks of fire, wind, and theft; and commercial and personal lines of products. The company distributes insurance products and services through its technology platform; and offers its policies online, over the phone, or through licensed insurance agents.

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