Fathom Holdings Inc. (NASDAQ:FTHM) Sees Large Drop in Short Interest

Fathom Holdings Inc. (NASDAQ:FTHM) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 232,200 shares, a decrease of 5.4% from the May 31st total of 245,400 shares. Based on an average trading volume of 75,500 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.8% of the company’s stock are short sold.

Fathom Stock Performance

NASDAQ FTHM opened at $1.61 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $1.62 and its two-hundred day moving average is $2.29. Fathom has a 12-month low of $1.32 and a 12-month high of $8.20.

Fathom (NASDAQ:FTHM) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The firm had revenue of $70.50 million during the quarter, compared to analyst estimates of $83.91 million. Fathom had a negative return on equity of 43.82% and a negative net margin of 7.16%. During the same quarter in the prior year, the company earned ($0.36) EPS. As a group, analysts expect that Fathom will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on FTHM. B. Riley reduced their price objective on Fathom from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Roth Mkm reduced their price objective on Fathom from $4.50 to $3.50 and set a “buy” rating for the company in a research note on Friday, May 10th. Stephens dropped their target price on Fathom from $4.00 to $2.50 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, DA Davidson dropped their target price on Fathom from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Monday, May 13th.

Insider Transactions at Fathom

In other news, Director Scott N. Flanders bought 19,999 shares of Fathom stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $1.70 per share, with a total value of $33,998.30. Following the acquisition, the director now owns 564,099 shares of the company’s stock, valued at $958,968.30. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Scott N. Flanders acquired 25,000 shares of Fathom stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average cost of $1.65 per share, with a total value of $41,250.00. Following the purchase, the director now directly owns 596,335 shares in the company, valued at $983,952.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott N. Flanders acquired 19,999 shares of Fathom stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $1.70 per share, with a total value of $33,998.30. Following the completion of the purchase, the director now owns 564,099 shares in the company, valued at $958,968.30. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 137,219 shares of company stock valued at $229,414. 46.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fathom

A number of institutional investors and hedge funds have recently modified their holdings of FTHM. Cannell Capital LLC grew its holdings in shares of Fathom by 23.1% in the 3rd quarter. Cannell Capital LLC now owns 1,546,881 shares of the company’s stock worth $6,311,000 after acquiring an additional 289,978 shares during the period. Skylands Capital LLC grew its holdings in Fathom by 29.1% during the 4th quarter. Skylands Capital LLC now owns 192,236 shares of the company’s stock valued at $690,000 after buying an additional 43,383 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in Fathom during the fourth quarter worth $180,000. AMG National Trust Bank purchased a new position in Fathom during the fourth quarter worth $68,000. Finally, Connective Capital Management LLC acquired a new position in shares of Fathom in the first quarter worth $162,000. Institutional investors and hedge funds own 55.49% of the company’s stock.

Fathom Company Profile

Fathom Holdings Inc provides a real estate services platform that integrates residential brokerage, mortgage, title, and insurance services in the United States. It operates through three segments: Real Estate Brokerage, Mortgage, and Technology. The Real Estate Brokerage segment provides real estate brokerage services.