Facebook (FB) Short Interest Jumps 15 Percent

Recent short interest data for the 10/31/2014 settlement date shows an increase in short interest for shares of Facebook, Inc. (FB). As of October 31, the quantity of stock shares that investors have sold short but not yet covered for the social networking firm totaled 43,824,108 shares, as compared to 38,065,051 shares since October 15, a jump of 15.13%. Average daily volume [AVM] for the same period rose by 13,794,474 to 53,735,623 shares from 39,941,149 shares. It is worth mentioning that ticker’s short interest has jumped by more than 8.5M shares, or 24%, from the 8/15/2014 settlement date.

Based on the latest AVM, the days-to-cover ratio — a metric that includes both the total shares short and the average daily volume of shares traded — is currently 1.00 days. Days-to-cover for FB no change to 1.00 for the October 31 settlement date, as compared to 1.00 days at the October 15 report.

Recently, a number of Wall Street firms have assigned a rating to the stock. Analysts at Morgan Stanley (MS) initiated coverage on the stock with an ‘Overweight’ rating and a $90 price target in a research note on November 3d. Tigress Financial analysts upgraded the stock, assigning a ‘Buy’ from ‘Neutral’ rating in a research note to clients on October 30th. Finally, analysts at CRT Capital maintained their ‘Buy’ rating and $84 price target in a research note on October 29th. Overall, there are 22 analysts that rate Intel a ‘Buy’, while 7 rate it a ‘Hold’. No analyst rates it a ‘Sell’. Facebook has a median Wall Street price target of $88 with a high target of $103.

In other FB news, CTO Michael Todd Schroepfer sold 35,000 shares of Facebook on November 3rd. Schroepfer sold shares at an average pps of $75.50, raking in more than $2.6 million, according to a filing with the SEC.

Facebook, Inc. has a beta of 0.75 and a short float of 2.11%. In the past 52 weeks, shares of Menlo Park, California-based social giant have traded between a low of $43.55 and a high of $81.16 and are now at $74.72. Shares are up 60.31% year-over-year, and 36.72% year-to-date.

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