SmileDirectClub (NASDAQ:SDC) Short Interest Update

SmileDirectClub (NASDAQ:SDC) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 41,880,000 shares, a growth of 5.1% from the April 30th total of 39,850,000 shares. Approximately 56.5% of the company’s stock are short sold. Based on an average daily volume of 9,360,000 shares, the short-interest ratio is presently 4.5 days.

Several research firms have commented on SDC. Credit Suisse Group lowered their price target on shares of SmileDirectClub from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Zacks Investment Research cut shares of SmileDirectClub from a “buy” rating to a “hold” rating in a report on Friday. William Blair reiterated a “buy” rating on shares of SmileDirectClub in a report on Wednesday, February 26th. UBS Group lowered their price target on shares of SmileDirectClub from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $6.50 price target on shares of SmileDirectClub in a report on Thursday, May 14th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $11.88.

In other SmileDirectClub news, Director Richard F. Wallman acquired 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average price of $5.44 per share, for a total transaction of $43,520.00. Also, insider Kay Oswald sold 10,000 shares of SmileDirectClub stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $10.04, for a total transaction of $100,400.00. The disclosure for this sale can be found here. Insiders own 66.04% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SDC. Stifel Financial Corp purchased a new stake in SmileDirectClub in the 3rd quarter valued at $319,000. Exane Derivatives purchased a new stake in SmileDirectClub in the 4th quarter valued at $151,000. Telemus Capital LLC raised its position in SmileDirectClub by 137.3% in the 4th quarter. Telemus Capital LLC now owns 49,425 shares of the company’s stock valued at $432,000 after purchasing an additional 28,600 shares during the last quarter. California Public Employees Retirement System purchased a new stake in SmileDirectClub in the 4th quarter valued at $910,000. Finally, Edge Wealth Management LLC raised its position in SmileDirectClub by 6,046.5% in the 4th quarter. Edge Wealth Management LLC now owns 13,215 shares of the company’s stock valued at $116,000 after purchasing an additional 13,000 shares during the last quarter. Hedge funds and other institutional investors own 19.87% of the company’s stock.

Shares of NASDAQ:SDC traded down $0.04 during trading on Friday, hitting $7.60. 5,500,586 shares of the company were exchanged, compared to its average volume of 13,915,067. The stock has a market capitalization of $2.94 billion and a P/E ratio of -6.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.34 and a quick ratio of 2.77. SmileDirectClub has a 12-month low of $3.64 and a 12-month high of $21.10. The firm’s 50 day moving average price is $5.83 and its 200-day moving average price is $8.70.

SmileDirectClub (NASDAQ:SDC) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The firm had revenue of $196.65 million for the quarter, compared to analyst estimates of $205.64 million. As a group, equities research analysts anticipate that SmileDirectClub will post -0.62 EPS for the current year.

About SmileDirectClub

SmileDirectClub, Inc operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. The company manages the end-to-end process, which include marketing, aligner manufacturing, fulfillment, treatment by a doctor, and monitoring through completion of their treatment proprietary with a network of approximately 240 state licensed orthodontists and general dentists through its teledentistry platform, SmileCheck.

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