On Deck Capital Inc (NYSE:ONDK) Short Interest Down 36.5% in March

On Deck Capital Inc (NYSE:ONDK) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totalling 2,208,200 shares, a decline of 36.5% from the February 27th total of 3,480,000 shares. Based on an average daily volume of 474,100 shares, the days-to-cover ratio is currently 4.7 days. Approximately 4.0% of the company’s shares are short sold.

Shares of On Deck Capital stock traded up $0.37 on Thursday, hitting $1.65. The company had a trading volume of 2,650,260 shares, compared to its average volume of 655,906. The firm has a market capitalization of $100.48 million, a P/E ratio of 4.58 and a beta of 1.56. On Deck Capital has a twelve month low of $0.54 and a twelve month high of $5.69. The company has a debt-to-equity ratio of 3.09, a current ratio of 15.35 and a quick ratio of 15.35. The stock has a 50-day moving average of $2.95 and a 200-day moving average of $3.70.

On Deck Capital (NYSE:ONDK) last released its quarterly earnings results on Tuesday, February 11th. The credit services provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.02). The company had revenue of $111.70 million during the quarter, compared to analyst estimates of $113.15 million. On Deck Capital had a net margin of 6.33% and a return on equity of 5.73%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. Equities analysts predict that On Deck Capital will post 0.3 EPS for the current year.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of On Deck Capital from a “strong sell” rating to a “sell” rating in a report on Wednesday. Maxim Group restated a “hold” rating on shares of On Deck Capital in a report on Thursday, February 13th. Zacks Investment Research cut shares of On Deck Capital from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on shares of On Deck Capital from $3.50 to $4.25 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. On Deck Capital has an average rating of “Hold” and an average target price of $5.25.

Several hedge funds have recently made changes to their positions in ONDK. Cubist Systematic Strategies LLC bought a new stake in shares of On Deck Capital in the fourth quarter worth $32,000. Amalgamated Bank bought a new stake in On Deck Capital during the fourth quarter worth $42,000. Marshall Wace LLP bought a new stake in On Deck Capital during the first quarter worth $42,000. Dynamic Technology Lab Private Ltd bought a new stake in On Deck Capital during the fourth quarter worth $60,000. Finally, Zebra Capital Management LLC bought a new stake in On Deck Capital during the fourth quarter worth $67,000. 67.87% of the stock is currently owned by institutional investors and hedge funds.

About On Deck Capital

On Deck Capital, Inc operates an online platform for small business lending in the United States, Canada, and Australia. It offers term loans and lines of credit. The company also provides technology and services platform that facilitates online lending to small business customers for banks. It distributes its products through direct marketing channel, strategic partners, and funding advisors.

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