Short Interest in Miami International Holdings, Inc. (NYSE:MIAX) Increases By 99.1%

Miami International Holdings, Inc. (NYSE:MIAX) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 3,996,304 shares, a growth of 99.1% from the December 15th total of 2,007,443 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 1,268,942 shares, the short-interest ratio is currently 3.1 days. Based on an average trading volume of 1,268,942 shares, the short-interest ratio is currently 3.1 days. Approximately 4.9% of the company’s stock are short sold.

Miami International Price Performance

Shares of NYSE:MIAX traded up $0.34 during trading on Thursday, reaching $43.10. 212,694 shares of the company’s stock traded hands, compared to its average volume of 1,000,666. The stock has a market cap of $3.51 billion and a PE ratio of 2,154.75. Miami International has a 12 month low of $28.63 and a 12 month high of $51.38. The company’s 50 day moving average is $45.19.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, November 5th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share.

Institutional Investors Weigh In On Miami International

A number of hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new position in shares of Miami International during the third quarter worth about $29,000. SG Americas Securities LLC acquired a new position in shares of Miami International during the fourth quarter worth approximately $105,000. Emerald Mutual Fund Advisers Trust bought a new position in Miami International in the 3rd quarter worth approximately $101,000. Texas Yale Capital Corp. bought a new position in Miami International in the 3rd quarter worth approximately $201,000. Finally, Sandia Investment Management LP acquired a new stake in Miami International in the 3rd quarter valued at approximately $266,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $55.00 price target on shares of Miami International in a research note on Tuesday, December 9th. Piper Sandler boosted their price objective on Miami International from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on Miami International from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Keefe, Bruyette & Woods lifted their target price on Miami International from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Miami International presently has an average rating of “Hold” and an average price target of $47.20.

About Miami International

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.