Short Interest in Gen Digital Inc. (NASDAQ:GEN) Sees Significant Rise

Gen Digital Inc. (NASDAQ:GEN) has experienced a notable surge in short interest during February. As of February 15th, the total short interest stood at 18,710,000 shares, marking a considerable increase of 25.0% compared to the January 31st total of 14,970,000 shares. Currently, around 3.4% of Gen Digital's shares are sold short. Given the average daily trading volume of 3,350,000 shares, the short-interest ratio is now calculated at 5.6 days.

Changes in Analyst Ratings

In a separate update, the UBS Group has upgraded Gen Digital's rating to a "strong-buy" in a research report published on December 4th.

Gen Digital's Stock Performance

On a recent trading day, shares of NASDAQ GEN declined by $0.22, reaching a price of $27.33. The trading volume that day was 3,098,493 shares, whereas the average volume stands at 3,625,812. Over the past year, Gen Digital has recorded a low of $19.58 and a high of $31.72. The company's market capitalization is approximately $16.84 billion. Financially, it has a price-to-earnings (P/E) ratio of 26.79 and a P/E/G ratio of 1.19, indicating good growth potential. Its beta stands at 0.83, with a debt-to-equity ratio of 3.29. Gen Digital's current ratio and quick ratio are both at 0.35, reflecting its liquidity position. The stock has shown a 50-day simple moving average of $27.44 and a 200-day simple moving average of $27.81.

Earnings Results Overview

Gen Digital reported its latest earnings results on January 30th, detailing earnings of $0.52 per share (EPS) for the most recent quarter. This figure fell short of analysts' consensus expectations of $0.55 by a margin of $0.03. The company's net margin was recorded at 16.32%, and it achieved a return on equity of 58.83%. Analysts anticipate that Gen Digital will post an EPS of 2.05 for the current fiscal year.

Institutional Ownership Trends

Various institutional investors have recently adjusted their positions in Gen Digital. For instance, Brighton Jones LLC increased its holdings by 5.4% in the fourth quarter, resulting in ownership of 25,212 shares valued at approximately $690,000 after acquiring an additional 1,299 shares. Additionally, QSM Asset Management Ltd purchased a new stake in Gen Digital worth around $5,373,000. Universal Beteiligungs und Servicegesellschaft mbH also acquired a new stake valued at about $14,367,000 during the same period. Currently, 81.38% of Gen Digital's shares are held by institutional investors and hedge funds.

Company Overview

Gen Digital Inc. is dedicated to delivering cyber safety solutions for consumers, operating in multiple regions including the United States, Canada, Latin America, Europe, the Middle East, Africa, Asia Pacific, and Japan. The company provides security and performance products under well-known brands such as Norton, Avast, Avira, AVG, and CCleaner. These offerings are designed to provide real-time protection and maintenance for PCs, Macs, and mobile devices against various online threats such as malware and viruses.

stocks, trading, finance