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Otonomo Technologies Ltd. (NASDAQ:OTMO) Sees Significant Decrease in Short Interest – MarketBeat

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Otonomo Technologies Ltd. (NASDAQ:OTMOGet Rating) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 85,000 shares, a drop of 45.1% from the June 15th total of 154,900 shares. Based on an average daily volume of 338,400 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Otonomo Technologies

An institutional investor recently bought a new position in Otonomo Technologies stock. Renaissance Technologies LLC purchased a new position in shares of Otonomo Technologies Ltd. (NASDAQ:OTMOGet Rating) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 342,168 shares of the company’s stock, valued at approximately $674,000. Renaissance Technologies LLC owned approximately 0.26% of Otonomo Technologies as of its most recent SEC filing. Institutional investors own 51.43% of the company’s stock.

Otonomo Technologies Stock Down 2.3 %

Shares of NASDAQ:OTMO traded down $0.02 on Friday, hitting $0.90. The stock had a trading volume of 80,783 shares, compared to its average volume of 264,836. Otonomo Technologies has a twelve month low of $0.88 and a twelve month high of $9.99. The firm’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.80.

Wall Street Analysts Forecast Growth

OTMO has been the topic of a number of research reports. B. Riley dropped their target price on shares of Otonomo Technologies from $7.50 to $4.50 in a research report on Monday, May 2nd. Citigroup began coverage on shares of Otonomo Technologies in a research note on Friday, June 3rd. They set a “neutral” rating and a $1.50 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Otonomo Technologies in a research note on Wednesday, May 18th.

Otonomo Technologies Company Profile

(Get Rating)
Otonomo Technologies Ltd. provides an automotive data service platform and marketplace that enables car manufacturers, drivers, and service providers to be part of a connected ecosystem. The company offers cabin data, including the state of doors and windows, ADAS, and infotainment data; engine-related information, such as fuel, oil, error codes or battery voltage, and state of charge; maintenance data comprising time or distance traveled and diagnostic trouble codes; data related to the specific vehicles, which include making, model, year, and fuel type; driving data consisting of location, distance travelled, odometer, and heading and speed; and environmental data that include external weather and temperature, and road hazards and road signs.

See Also

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