Riskified (NYSE:RSKD) Sees Large Volume Increase – Here’s What Happened

Riskified Ltd. (NYSE:RSKD) shares saw unusually-strong trading volume on Wednesday . Approximately 1,658,479 shares were traded during trading, an increase of 143% from the previous session’s volume of 682,606 shares.The stock last traded at $4.2850 and had previously closed at $4.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RSKD shares. Truist Financial lowered their price objective on Riskified from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen raised Riskified from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Riskified in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.96.

Riskified Price Performance

The company has a market cap of $633.34 million, a price-to-earnings ratio of -25.15 and a beta of 1.33. The stock has a 50 day simple moving average of $4.27 and a two-hundred day simple moving average of $4.60.

Riskified (NYSE:RSKD) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $99.33 million for the quarter, compared to analyst estimates of $97.21 million. Riskified had a negative return on equity of 5.63% and a negative net margin of 8.00%. As a group, research analysts forecast that Riskified Ltd. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Riskified

Hedge funds have recently modified their holdings of the business. Harvey Partners LLC grew its holdings in shares of Riskified by 20.4% during the 3rd quarter. Harvey Partners LLC now owns 3,093,000 shares of the company’s stock worth $14,475,000 after purchasing an additional 523,855 shares during the period. Clearline Capital LP raised its holdings in shares of Riskified by 23.8% in the 3rd quarter. Clearline Capital LP now owns 3,106,045 shares of the company’s stock valued at $14,536,000 after buying an additional 597,765 shares during the period. TFJ Management LLC raised its holdings in shares of Riskified by 31.7% in the 3rd quarter. TFJ Management LLC now owns 1,394,074 shares of the company’s stock valued at $6,524,000 after buying an additional 335,399 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Riskified in the 4th quarter valued at $1,019,000. Finally, R Squared Ltd purchased a new stake in shares of Riskified in the 4th quarter valued at $62,000. 58.98% of the stock is currently owned by hedge funds and other institutional investors.

About Riskified

Riskified is a technology company specializing in e-commerce fraud prevention and revenue optimization for online merchants. Its platform combines machine learning, behavioral analytics and proprietary risk models to assess the legitimacy of transactions in real time. By offering a chargeback guarantee, Riskified assumes the financial liability for approved orders that later turn out to be fraudulent, allowing retailers to focus on growth rather than dispute management.

The company’s core product suite addresses various aspects of the online shopping lifecycle, including order approval, account takeover protection and policy compliance.