Short Interest in Liftoff Mobile, Inc. (NASDAQ:LFTO) Declines By 60.2%

Liftoff Mobile, Inc. (NASDAQ:LFTO) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 662,794 shares, a decrease of 60.2% from the June 30th total of 1,665,432 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 833,382 shares, the short-interest ratio is currently 0.8 days.

Insider Buying and Selling

In related news, Director Atlantic Genpar L.P. General purchased 1,304,347 shares of Liftoff Mobile stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $23.00 per share, for a total transaction of $29,999,981.00. Following the transaction, the director owned 25,315,646 shares in the company, valued at approximately $582,259,858. The trade was a 5.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LFTO shares. Wells Fargo & Company assumed coverage on Liftoff Mobile in a research report on Monday, June 29th. They set an “overweight” rating and a $32.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Liftoff Mobile in a research note on Monday, June 29th. They set a “buy” rating and a $37.00 price objective for the company. Cantor Fitzgerald started coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They set an “overweight” rating and a $33.00 price objective on the stock. Tigress Financial initiated coverage on shares of Liftoff Mobile in a research report on Monday, July 13th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Royal Bank Of Canada began coverage on shares of Liftoff Mobile in a report on Monday, June 29th. They issued an “outperform” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.46.

Liftoff Mobile Price Performance

Shares of LFTO stock opened at $22.14 on Monday. Liftoff Mobile has a 52 week low of $21.50 and a 52 week high of $30.10.