Short Interest Buzzer: Today Shopify Class A (NYSE:SHOP) Reported Increase in Shorted Shares

November 16, 2016 - By Nellie Frank   ·   0 Comments

Short Interest Buzzer: Today Shopify Class A (NYSE:SHOP) Reported Increase in Shorted Shares

The stock of Shopify Class A (NYSE:SHOP) registered an increase of 3.94% in short interest. SHOP’s total short interest was 1.58 million shares in November as published by FINRA. Its up 3.94% from 1.52 million shares, reported previously. With 808,100 shares average volume, it will take short sellers 2 days to cover their SHOP’s short positions. The short interest to Shopify Class A’s float is 3.13%. The stock increased 5.33% or $2.02 during the last trading session, hitting $39.92. Shopify Inc (NYSE:SHOP) has risen 28.94% since April 14, 2016 and is uptrending. It has outperformed by 24.25% the S&P500.

Shopify Inc. is a provider of cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The company has a market cap of $3.39 billion. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, social media storefronts, such as Facebook, Twitter and Pinterest, and physical retail locations. It currently has negative earnings. The Company’s platform provides merchants with a single view of their business and clients across all of their sales channels and enables them to manage products and inventory, process orders and payments, ship orders, build customer relationships and leverage analytics and reporting all from one integrated back office.

Shopify Inc (NYSE:SHOP) Ratings Coverage

Out of 18 analysts covering Shopify (NYSE:SHOP), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. Shopify has been the topic of 24 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, July 31. The firm has “Buy” rating given on Wednesday, May 4 by Roth Capital. The firm has “Overweight” rating given on Tuesday, February 16 by Piper Jaffray. The firm earned “Neutral” rating on Thursday, August 4 by Citigroup. The firm has “Overweight” rating given on Monday, August 22 by KeyBanc Capital Markets. Canaccord Genuity upgraded the stock to “Buy” rating in Thursday, February 18 report. The firm has “Buy” rating by Paradigm Research given on Thursday, April 14. The company was initiated on Monday, October 17 by Dundee Securities. The rating was upgraded by Raymond James to “Outperform” on Wednesday, November 18. The firm has “Outperform” rating by Wedbush given on Thursday, February 18.

More notable recent Shopify Inc (NYSE:SHOP) news were published by: Fool.com which released: “Shopify Inc. Revenue Soars 89%” on November 03, 2016, also Fool.com with their article: “Shopify Inc. Keeps Growing” published on October 02, 2016, Fool.com published: “Why Analysts Are Upgrading Shopify Inc Stock” on August 27, 2016. More interesting news about Shopify Inc (NYSE:SHOP) were released by: Blogs.Wsj.com and their article: “Shopify Inc. CFO Goes Public — With a Little Help From His Friends” published on October 04, 2016 as well as Profitconfidential.com‘s news article titled: “Shopify Inc: SHOP Stock Could Go into Orbit Based on THIS” with publication date: October 20, 2016.

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By Nellie Frank


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