Short Interest in NVIDIA Corporation (NASDAQ:NVDA) Declines By 8.1%

NVIDIA Corporation (NASDAQ:NVDA) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 16,348,389 shares, a drop of 8.1% from the November 30th total of 17,796,113 shares. Based on an average trading volume of 15,908,898 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.8% of the shares of the company are sold short.

A number of equities analysts have recently issued reports on the stock. Raymond James Financial upped their target price on shares of NVIDIA and gave the stock an “outperform” rating in a research report on Friday, November 10th. Bank of America set a $210.00 target price on shares of NVIDIA and gave the stock a “buy” rating in a research report on Thursday, October 12th. Royal Bank of Canada upped their target price on shares of NVIDIA from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Mizuho reissued a “buy” rating and set a $225.00 price target on shares of NVIDIA in a research note on Tuesday, November 28th. Finally, Canaccord Genuity boosted their price target on shares of NVIDIA from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $192.04.

In other news, CFO Colette Kress sold 171 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $185.57, for a total transaction of $31,732.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Persis Drell sold 606 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $197.07, for a total transaction of $119,424.42. Following the completion of the sale, the director now directly owns 26,104 shares in the company, valued at approximately $5,144,315.28. The disclosure for this sale can be found here. Insiders sold a total of 19,858 shares of company stock worth $4,227,384 in the last quarter. Insiders own 5.17% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Welch Investments LLC bought a new position in NVIDIA during the third quarter worth about $104,000. Evercore Wealth Management LLC increased its position in NVIDIA by 36.9% during the second quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the period. Country Trust Bank increased its position in NVIDIA by 490.0% during the fourth quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after acquiring an additional 490 shares during the period. Thompson Davis & CO. Inc. increased its position in NVIDIA by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock worth $119,000 after acquiring an additional 6 shares during the period. Finally, North Star Investment Management Corp. increased its position in NVIDIA by 67.3% during the fourth quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock worth $123,000 after acquiring an additional 255 shares during the period. 63.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of NVIDIA (NVDA) opened at $224.08 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 7.42 and a current ratio of 8.26. The stock has a market cap of $135,760.00, a PE ratio of 56.02, a PEG ratio of 5.02 and a beta of 1.18. NVIDIA has a 12 month low of $95.17 and a 12 month high of $226.27.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. NVIDIA’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. research analysts forecast that NVIDIA will post 4.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.27%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, November 22nd. NVIDIA’s dividend payout ratio (DPR) is currently 15.00%.

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NVIDIA Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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