Short Interest in Uber Technologies, Inc. (NYSE:UBER) Decreases By 18.2%

Uber Technologies, Inc. (NYSE:UBERGet Rating) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 74,260,000 shares, a decrease of 18.2% from the May 15th total of 90,810,000 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average trading volume of 33,930,000 shares, the days-to-cover ratio is currently 2.2 days.

Uber Technologies stock traded up $1.34 on Friday, hitting $21.81. The company’s stock had a trading volume of 43,299,598 shares, compared to its average volume of 34,724,477. The company has a fifty day moving average price of $26.64 and a 200-day moving average price of $33.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Uber Technologies has a one year low of $20.16 and a one year high of $52.36. The firm has a market cap of $42.83 billion, a P/E ratio of -6.63 and a beta of 1.33.

Uber Technologies (NYSE:UBERGet Rating) last posted its earnings results on Wednesday, May 4th. The ride-sharing company reported ($3.04) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($2.77). Uber Technologies had a positive return on equity of 9.68% and a negative net margin of 29.51%. The firm had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the company posted ($0.57) EPS. The firm’s revenue for the quarter was up 136.3% compared to the same quarter last year. Analysts anticipate that Uber Technologies will post -3.58 EPS for the current year.

A number of research analysts have issued reports on the company. Barclays boosted their price target on Uber Technologies from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 8th. Needham & Company LLC cut their price objective on Uber Technologies from $68.00 to $50.00 in a report on Thursday, May 5th. Citigroup cut their price objective on Uber Technologies from $78.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, April 20th. Oppenheimer cut their price objective on Uber Technologies from $45.00 to $40.00 in a report on Thursday, May 5th. Finally, Stifel Nicolaus cut their price objective on Uber Technologies from $48.00 to $40.00 in a report on Wednesday, May 4th. Thirty investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.43.

In other news, CEO Dara Khosrowshahi purchased 200,000 shares of the company’s stock in a transaction on Friday, May 6th. The shares were bought at an average price of $26.73 per share, for a total transaction of $5,346,000.00. Following the completion of the purchase, the chief executive officer now owns 1,420,968 shares of the company’s stock, valued at $37,982,474.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.06% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. lifted its position in Uber Technologies by 222.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 606 shares of the ride-sharing company’s stock worth $25,000 after buying an additional 418 shares in the last quarter. Ahrens Investment Partners LLC acquired a new position in Uber Technologies during the 4th quarter worth about $25,000. Centerpoint Advisors LLC acquired a new position in Uber Technologies during the 4th quarter worth about $27,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in Uber Technologies during the 4th quarter worth about $27,000. Finally, MCF Advisors LLC acquired a new position in Uber Technologies during the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

About Uber Technologies (Get Rating)

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It connects consumers with independent providers of ride services for ridesharing services; and connects riders and other consumers with restaurants, grocers, and other stores with delivery service providers for meal preparation, grocery, and other delivery services.

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