Short Interest in Gen Digital Inc. (NASDAQ:GEN) Rises By 25.0%

Gen Digital Inc. (NASDAQ:GEN - Get Free Report) experienced a notable surge in short interest throughout February. As of February 15th, the total short interest rose to 18,710,000 shares, marking an increase of 25.0% from 14,970,000 shares reported on January 31st. Currently, this represents about 3.4% of the company's total shares being sold short. With an average daily trading volume of 3,350,000 shares, the short-interest ratio stands at 5.6 days.

Analyst Ratings Changes

In addition, on December 4th, UBS Group raised its rating for Gen Digital to a "strong-buy" in a recent research report.

Gen Digital Trading Down 0.8%

During midday trading on Thursday, shares of NASDAQ GEN decreased by $0.22, reaching a price of $27.33. A total of 3,098,493 shares were exchanged, compared to the stock's average volume of 3,625,812. The company's share price has ranged between $19.58—its 12-month low—and $31.72—its 12-month high. Gen Digital has a market capitalization of $16.84 billion, with a price-to-earnings (P/E) ratio of 26.79, a P/E/G ratio of 1.19, and a beta of 0.83. Financial metrics include a debt-to-equity ratio of 3.29, a current ratio of 0.35, and a quick ratio of 0.35. Additionally, the 50-day simple moving average is $27.44, and the two-hundred day simple moving average is $27.81.

On January 30th, Gen Digital last reported its earnings, revealing earnings per share (EPS) of $0.52 for the quarter, which fell short of analysts' expectations of $0.55 by $0.03. The company boasts a net margin of 16.32% and a return on equity of 58.83%. Analysts predict that Gen Digital will achieve an EPS of 2.05 for the current year.

Institutional Trading of Gen Digital

Recently, several hedge funds have adjusted their positions in Gen Digital. Brighton Jones LLC increased its holdings in the company by 5.4% during the fourth quarter, owning 25,212 shares worth approximately $690,000 after adding 1,299 shares in the last quarter. Meanwhile, QSM Asset Management Ltd acquired a new investment in Gen Digital worth about $5,373,000 in the fourth quarter, and Universal Beteiligungs und Servicegesellschaft mbH made a new investment valued at approximately $14,367,000 in the same period. Currently, institutional investors and hedge funds own 81.38% of the company's stocks.

About Gen Digital

Gen Digital Inc. specializes in providing cybersecurity solutions for consumers across various regions, including the United States, Canada, Latin America, Europe, the Middle East, Africa, Asia Pacific, and Japan. The company delivers security and performance products under well-known brands such as Norton, Avast, Avira, AVG, and CCleaner, aimed at offering real-time protection and maintenance for PCs, Macs, and mobile devices against malware and other online threats.

Further Reading

• Find Five Stocks That Analysts Prefer Over Gen Digital
• How to Identify 52-Week Highs and Lows
• Investing in Small-Cap AI Companies
• Understanding Forex: How Does It Work?
• Should You Buy, Sell, or Hold Occidental Petroleum, Currently at a 52-Week Low?
• Explore NYSE Stocks: A Wide Array of Quality Options
• Is Super Micro Computer Stock a Buy After NASDAQ Compliance?

This news update was generated with narrative science technology and financial data to provide quick and accurate information. Please direct any questions or comments regarding this report to the appropriate contact.

GenDigital, Stocks, ShortInterest