Q2 STOCKS TO BUY

Sirius XM Stock Sinks on Analyst Downgrade

Short interest accounts for more than 31% of SIRI's available float

Deputy Editor
Apr 18, 2022 at 9:30 AM
facebook X logo linkedin


The shares of Sirius XM Holdings Inc (NASDAQ:SIRI) are down 2.6% at $6.29, following a downgrade from Morgan Stanley. The brokerage firm lowered its rating to "underweight" from "equal weight," citing potential impact from headwinds in the automobile industry as well as Sirius XM stock's outperformance on the charts over the last 12 months.

Concerning its technical setup on the charts, SIRI boasted a 6.8% year-over-year lead coming into today's session. The security has been moving lower since its March 31 10-month high of $6.77, and if these losses hold, the stock could break below its 40- and 50-day moving averages.

Analysts are currently split on Sirius XM stock, with four "strong buys," compared to two "holds" and two "strong sells." Meanwhile, the consensus 12-month price target sits at $7.30 -- slightly higher than Morgan Stanley's new target and a 13% premium to Thursday's close.

Elsewhere, Sirius XM stock's 200.30 million shares sold short represents a whopping 31.2% of the stock's total available float, or around two week's worth of pent-up buying power.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter