Marqeta, Inc. (NASDAQ:MQ) Short Interest Update

Marqeta, Inc. (NASDAQ:MQ) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 13,580,000 shares, a decrease of 21.5% from the January 15th total of 17,310,000 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily trading volume, of 6,070,000 shares, the short-interest ratio is currently 2.2 days.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in Marqeta in the fourth quarter worth $33,000. Blueshift Asset Management LLC bought a new position in shares of Marqeta during the fourth quarter valued at $38,000. Covestor Ltd lifted its holdings in shares of Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares during the period. Bank of Montreal Can lifted its holdings in shares of Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 49,243 shares during the period. Finally, Stifel Financial Corp bought a new position in shares of Marqeta during the fourth quarter valued at $41,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MQ shares. KeyCorp downgraded Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Barclays restated an “equal weight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Morgan Stanley dropped their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.65.

Marqeta Price Performance

Shares of Marqeta stock traded down $0.03 during midday trading on Friday, hitting $3.59. The company had a trading volume of 4,394,792 shares, compared to its average volume of 3,933,593. The business’s 50 day simple moving average is $3.80 and its two-hundred day simple moving average is $4.47. The stock has a market cap of $1.80 billion, a PE ratio of 179.50 and a beta of 1.52. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.