Giftify, Inc. (NASDAQ:GIFT) Sees Significant Growth in Short Interest

Giftify, Inc. (NASDAQ:GIFT) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 76,083 shares, a growth of 339.9% from the May 31st total of 17,297 shares. Based on an average daily volume of 232,526 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Henrickson Nauta Wealth Advisors Inc. bought a new stake in shares of Giftify in the 1st quarter worth approximately $142,000. Elevation Point Wealth Partners LLC bought a new position in Giftify during the first quarter valued at $100,000. Blair William & Co. IL increased its position in Giftify by 280.0% in the third quarter. Blair William & Co. IL now owns 95,000 shares of the company’s stock worth $101,000 after buying an additional 70,000 shares during the last quarter. Finally, Susquehanna International Group LLP increased its position in Giftify by 62.1% in the third quarter. Susquehanna International Group LLP now owns 45,007 shares of the company’s stock worth $48,000 after buying an additional 17,234 shares during the last quarter.

Giftify Stock Performance

Shares of NASDAQ:GIFT traded up $0.07 during midday trading on Friday, reaching $1.01. The company had a trading volume of 43,772 shares, compared to its average volume of 157,592. The company’s 50 day moving average price is $0.97 and its 200 day moving average price is $0.99. The company has a current ratio of 1.00, a quick ratio of 0.60 and a debt-to-equity ratio of 0.03. The stock has a market cap of $34.45 million, a P/E ratio of -3.16 and a beta of -1.38. Giftify has a 52-week low of $0.74 and a 52-week high of $1.56.

Giftify (NASDAQ:GIFT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). Giftify had a negative net margin of 12.06% and a negative return on equity of 45.87%. The business had revenue of $21.36 million during the quarter, compared to the consensus estimate of $20.55 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Giftify in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Giftify presently has an average rating of “Sell”.

About Giftify

Giftify, Inc (NASDAQ: GIFT) is a US-based technology company specializing in digital gift solutions for businesses across retail, hospitality and corporate sectors. The company’s cloud-based platform enables brands and organizations to create, distribute and redeem e-gift cards and e-vouchers through multiple channels, including email, SMS and API integrations. By offering a turnkey solution for branded gifting campaigns, Giftify helps clients drive consumer acquisition, retention and incremental revenue.

Central to Giftify’s offering is a suite of management tools that enable real-time tracking of gift card inventory, performance analytics and customer engagement metrics.