Hippo Holdings Inc. (NYSE:HIPO) Sees Large Increase in Short Interest

Hippo Holdings Inc. (NYSE:HIPO – Get Rating) saw a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 1,140,000 shares, a growth of 7.5% from the December 15th total of 1,060,000 shares. Based on an average daily trading volume, of 129,400 shares, the days-to-cover ratio is presently 8.8 days. Currently, 10.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On Hippo

Several large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC increased its position in shares of Hippo by 60.0% in the third quarter. Cubist Systematic Strategies LLC now owns 2,080 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Hippo during the 3rd quarter valued at $46,000. Caz Investments LP acquired a new stake in Hippo during the 3rd quarter valued at $52,000. UMB Bank n.a. acquired a new stake in Hippo during the 4th quarter valued at $75,000. Finally, BNP Paribas Arbitrage SNC acquired a new stake in Hippo during the 3rd quarter valued at $147,000.

Analysts Set New Price Targets

Several brokerages have weighed in on HIPO. JMP Securities lowered their target price on shares of Hippo from $100.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 18th. Keefe, Bruyette & Woods started coverage on shares of Hippo in a research report on Thursday, November 17th. They issued an “outperform” rating and a $24.00 price target on the stock. Morgan Stanley lowered their price target on shares of Hippo from $51.50 to $17.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Hippo from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, January 9th.

Hippo Stock Down 0.4 %

Hippo stock opened at $17.02 on Monday. Hippo has a 52-week low of $11.30 and a 52-week high of $57.75. The firm has a fifty day moving average of $14.41 and a 200-day moving average of $18.24. The firm has a market capitalization of $392.52 million, a P/E ratio of -1.16 and a beta of 0.57.

Hippo (NYSE:HIPO – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($3.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.81) by ($0.35). Hippo had a negative return on equity of 35.79% and a negative net margin of 285.35%. The business had revenue of $30.70 million during the quarter, compared to analyst estimates of $32.82 million. On average, research analysts expect that Hippo will post -12.15 EPS for the current fiscal year.

About Hippo

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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.