Metromile, Inc. (NASDAQ:MILE – Get Rating) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 7,840,000 shares, an increase of 17.4% from the June 30th total of 6,680,000 shares. Based on an average trading volume of 934,800 shares, the short-interest ratio is currently 8.4 days. Currently, 10.2% of the company’s shares are short sold.
Metromile Stock Performance
MILE opened at $1.05 on Friday. The stock’s 50-day moving average price is $0.97 and its 200 day moving average price is $1.15. Metromile has a 12-month low of $0.75 and a 12-month high of $7.77. The firm has a market cap of $136.94 million, a price-to-earnings ratio of -0.58 and a beta of 0.46.
Metromile (NASDAQ:MILE – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.17). Metromile had a negative return on equity of 57.64% and a negative net margin of 130.53%. The firm had revenue of $20.70 million for the quarter, compared to analyst estimates of $11.60 million. On average, research analysts forecast that Metromile will post -1 earnings per share for the current year.
Hedge Funds Weigh In On Metromile
Metromile, Inc provides insurance policies for automobile owners in the United States. It operates through two segments, Insurance Services and Enterprise Business Solutions. The company offers pay-per-mile auto insurance policies. It also provides The Pulse, a device that plugs into the diagnostic port of its customer's car and transmits data, such as miles driven, driving habits, phone use, speeding, hard braking, accelerating, cornering, and location over wireless cellular networks.
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