BuzzFeed, Inc. (NASDAQ:BZFD) Sees Large Increase in Short Interest

BuzzFeed, Inc. (NASDAQ:BZFD) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,780,000 shares, an increase of 6.9% from the March 15th total of 4,470,000 shares. Currently, 8.0% of the company’s shares are short sold. Based on an average daily trading volume, of 4,760,000 shares, the days-to-cover ratio is currently 1.0 days.

BuzzFeed Stock Performance

Shares of BZFD opened at $0.38 on Wednesday. BuzzFeed has a one year low of $0.16 and a one year high of $1.05. The company has a 50-day moving average of $0.35 and a two-hundred day moving average of $0.31. The stock has a market cap of $55.43 million, a price-to-earnings ratio of -0.60 and a beta of 3.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BZFD. Monaco Asset Management SAM purchased a new stake in shares of BuzzFeed in the fourth quarter worth approximately $125,000. Woodline Partners LP purchased a new stake in shares of BuzzFeed in the second quarter worth approximately $67,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of BuzzFeed in the first quarter worth approximately $40,000. State Street Corp lifted its position in shares of BuzzFeed by 46.5% in the first quarter. State Street Corp now owns 129,523 shares of the company’s stock worth $146,000 after purchasing an additional 41,100 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of BuzzFeed in the first quarter worth approximately $752,000. 37.64% of the stock is currently owned by institutional investors and hedge funds.

About BuzzFeed

BuzzFeed, Inc, a digital media company, distributes content across owned and operated, as well as third-party platforms. The company offers BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a pocket friendly newsroom; Tasty, a platform for food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content.