Blend Labs, Inc. (NYSE:BLND – Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 13,170,000 shares, a decline of 9.5% from the August 15th total of 14,550,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is currently 4.0 days. Approximately 7.0% of the company’s shares are short sold.
Blend Labs Trading Down 1.9 %
Blend Labs stock traded down $0.08 during midday trading on Wednesday, hitting $3.91. The stock had a trading volume of 3,999,953 shares, compared to its average volume of 2,336,413. The business has a fifty day moving average price of $3.32 and a 200 day moving average price of $2.92. Blend Labs has a 12 month low of $1.10 and a 12 month high of $4.22. The stock has a market cap of $985.54 million, a P/E ratio of -6.74 and a beta of 1.15.
Blend Labs (NYSE:BLND – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Blend Labs had a negative return on equity of 595.99% and a negative net margin of 77.63%. The business had revenue of $40.48 million during the quarter, compared to the consensus estimate of $39.50 million. On average, equities analysts anticipate that Blend Labs will post -0.27 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on Blend Labs
Insider Activity
In other news, insider Winnie Ling sold 20,000 shares of Blend Labs stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $3.33, for a total value of $66,600.00. Following the completion of the sale, the insider now owns 286,416 shares of the company’s stock, valued at $953,765.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 11.83% of the company’s stock.
Institutional Trading of Blend Labs
A number of institutional investors and hedge funds have recently modified their holdings of BLND. G2 Investment Partners Management LLC bought a new stake in shares of Blend Labs in the 4th quarter worth approximately $956,000. Truist Financial Corp bought a new stake in Blend Labs in the fourth quarter valued at $255,000. Principal Financial Group Inc. acquired a new position in shares of Blend Labs during the second quarter valued at $809,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Blend Labs during the first quarter valued at $94,000. Finally, Jump Financial LLC bought a new position in shares of Blend Labs during the fourth quarter worth about $132,000. 52.56% of the stock is owned by institutional investors and hedge funds.
About Blend Labs
Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.
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