Giftify, Inc. (NASDAQ:GIFT) Short Interest Down 36.9% in August

Giftify, Inc. (NASDAQ:GIFT) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 29,581 shares, a drop of 36.9% from the July 30th total of 46,882 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 117,859 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Giftify

Hedge funds have recently added to or reduced their stakes in the business. Henrickson Nauta Wealth Advisors Inc. acquired a new stake in shares of Giftify during the 1st quarter worth approximately $142,000. Elevation Point Wealth Partners LLC acquired a new stake in Giftify in the second quarter worth $95,000. Blair William & Co. IL increased its stake in Giftify by 280.0% in the third quarter. Blair William & Co. IL now owns 95,000 shares of the company’s stock valued at $101,000 after purchasing an additional 70,000 shares in the last quarter. BlackRock Inc. acquired a new stake in Giftify in the second quarter valued at approximately $82,000. Finally, Susquehanna International Group LLP increased its stake in Giftify by 62.1% during the 3rd quarter. Susquehanna International Group LLP now owns 45,007 shares of the company’s stock valued at $48,000 after purchasing an additional 17,234 shares in the last quarter.

Giftify Trading Down 1.8%

NASDAQ GIFT traded down $0.01 on Tuesday, hitting $0.80. The company’s stock had a trading volume of 49,679 shares, compared to its average volume of 79,638. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.03. Giftify has a 1-year low of $0.74 and a 1-year high of $1.29. The company’s 50-day moving average is $0.90 and its 200 day moving average is $0.94. The firm has a market cap of $28.34 million, a PE ratio of -2.96 and a beta of -1.35.

Giftify (NASDAQ:GIFT) last released its earnings results on Monday, August 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. Giftify had a negative net margin of 10.32% and a negative return on equity of 39.87%. The business had revenue of $21.75 million for the quarter, compared to analyst estimates of $20.20 million. As a group, analysts predict that Giftify will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GIFT shares. Zacks Research upgraded shares of Giftify to a “hold” rating in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Giftify in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

About Giftify

Giftify, Inc (NASDAQ: GIFT) is a US-based technology company specializing in digital gift solutions for businesses across retail, hospitality and corporate sectors. The company’s cloud-based platform enables brands and organizations to create, distribute and redeem e-gift cards and e-vouchers through multiple channels, including email, SMS and API integrations. By offering a turnkey solution for branded gifting campaigns, Giftify helps clients drive consumer acquisition, retention and incremental revenue.

Central to Giftify’s offering is a suite of management tools that enable real-time tracking of gift card inventory, performance analytics and customer engagement metrics.