For the period that ended August 15, 2019, the short interest in Cardlytics, Inc. (NASDAQ:CDLX) stock is on the down. The 15.32% decline could be an indication that investors and traders expect a growth in the share price, often as a result of an advancement in the business’ fundamentals. The average brokerage opinion at 1.7 suggests disposing off these shares. Between July 31 and August 15, the total count of shorted shares totalled 3.07 million. That number was 555,574 less shares compared with the total of 3.63 million shares in the space of prior two weeks, which suggests more traders or funds are betting that the company stock will move up. The average daily volume for CDLX at the August 15th settlement surged to 417,335, versus 239,659 at the July 31st report. That led days to cover to move at 7.359776, a 51.37% decrease compared to the 15.13428 days to cover recorded at the prior short interest data release.
On September 11, 2019, Cardlytics, Inc. (NASDAQ:CDLX) shares gained 9.58% or 3.27 points to close at $37.42 with a thin trading volume of 2.515 million shares. It opened the trading session at $35.47, the shares rose to $37.96 and dropped to $34.4, the range by which the price of stock traded the whole day. The company now has a market cap of $836 million and currently has 22.35 million outstanding shares. Cardlytics, Inc. (CDLX) stock has accumulated 18.64 percent of market value in 21 trading days.
CDLX stock’s trailing 3-year beta is 0, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$1.5 share in the trailing 52 weeks. The stock’s value surged 245.52 percent year to date (YTD) compared to a rise of 77.09 percent in 52 week’s period. The firm’s shares are still trading -5.55 percent below its 1-year high of $39.62 and 281.84 percent up from 52-week low of $9.80. The average consensus ranking on the company is 1.7, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.
Cardlytics, Inc. (CDLX) is most likely going to rise 4.76 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $43-month high price target. This represents a whopping 14.91 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $40, which means a return possibility of 6.89 percent in comparison with the closing price of the stock of $37.42 on September 11. The lowest price set for the stock is $35 — just above -6.47 percent from CDLX share price now.
Past records have indicated that shares in Cardlytics, Inc. declined on 4 different earnings reaction days.
Let’s take a glimpse at some insider activity at Cardlytics, Inc. (NASDAQ:CDLX) and observe the pattern. The earliest insider trade happened on 08/27/2019. Youngren Bryce parted with a total of 135 thousand shares of the firm at average share price of $34.99. The total amount for the sale was set at $4.72 million. On completing this exchange, the Director account balance was 1.52 million shares. The stock lost -2.4 percent from that insider sale. On 08/26/2019, Grimes Scott D., CEO, did a sale of 10 thousand shares at a price of $34.04 per share. This got rid of 340.4 thousand shares from the insider’s fortune and the stock experienced a 0.32 percent rally in price since the news became public. This exchange saw 789.35 thousand shares get out from the CEO account.
On 08/26/2019, 10% Owner Aimia Inc. recorded a sale transaction valued at $44.93 million. The sale at $29.95 a share has eliminated 1.5 million shares from the insider’s portfolio position. Meanwhile, shares price witnessed 14.02 percent increase since the transaction reporting date. The company insider is left with 0 thousand shares remaining in the account. Youngren Bryce, who works as Director at the company, performed a sale of 94.8 thousand shares in a transaction worth $3.15 million. The disposal recorded on 08/23/2019 was priced at $33.28 per share. The stock price soared 2.61 percent since the transaction. Youngren Bryce currently holds a stake of 1.65 million in CDLX stock which is worth $61.8 million after the insider selling.
The stock is lingering around the initial support level of $35.23. After this, the following support is at the zone of $33.03. Up until the time the CDLX stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 59.98 on the daily chart, and this may be a cause for concern. In case the price goes below $33.03 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $38.79 level may cause a pull-back move approaching $40.15 mark.