Roku Inc (ROKU) Sees Large Drop in Short Interest

Roku Inc (NASDAQ:ROKU) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 5,947,766 shares, a decline of 22.7% from the November 30th total of 7,698,036 shares. Currently, 35.4% of the shares of the company are sold short. Based on an average daily volume of 8,487,226 shares, the short-interest ratio is presently 0.7 days.

Shares of Roku (NASDAQ:ROKU) opened at $43.38 on Friday. The firm has a market cap of $4,240.00 and a P/E ratio of -61.10. Roku has a twelve month low of $15.75 and a twelve month high of $58.80. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of -0.09.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.68) by $1.58. The company had revenue of $124.80 million for the quarter, compared to analyst estimates of $110.47 million. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. research analysts forecast that Roku will post -2.32 earnings per share for the current year.

A number of research analysts recently commented on ROKU shares. Morgan Stanley lowered shares of Roku from an “equal weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research note on Thursday, January 4th. Vetr upgraded shares of Roku from a “buy” rating to a “strong-buy” rating and set a $50.90 price target on the stock in a research note on Wednesday, November 29th. Zacks Investment Research upgraded shares of Roku from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Wednesday. Citigroup started coverage on shares of Roku in a research note on Monday, October 23rd. They issued a “neutral” rating and a $24.00 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Roku in a report on Thursday, November 9th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $36.61.

Hedge funds have recently added to or reduced their stakes in the stock. Kessler Investment Group LLC acquired a new position in Roku during the 4th quarter worth approximately $254,000. Oppenheimer Asset Management Inc. acquired a new position in Roku in the 3rd quarter valued at approximately $216,000. SG Americas Securities LLC acquired a new position in Roku in the 3rd quarter valued at approximately $273,000. Sylebra HK Co Ltd acquired a new position in Roku in the 3rd quarter valued at approximately $531,000. Finally, Sei Investments Co. acquired a new position in Roku in the 3rd quarter valued at approximately $544,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

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Roku Company Profile

Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.

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