SpringBig Holdings, Inc. (NASDAQ:SBIG – Get Rating) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 206,900 shares, a drop of 19.7% from the December 31st total of 257,700 shares. Based on an average daily trading volume, of 45,400 shares, the short-interest ratio is currently 4.6 days. Approximately 1.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Roth Capital reaffirmed a "buy" rating on shares of SpringBig in a research report on Tuesday, January 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC bought a new position in shares of SpringBig in the third quarter worth $116,000. Cantor Fitzgerald L. P. grew its stake in shares of SpringBig by 159.0% in the third quarter. Cantor Fitzgerald L. P. now owns 1,341,883 shares of the company's stock worth $1,261,000 after purchasing an additional 823,711 shares in the last quarter. Jane Street Group LLC bought a new position in shares of SpringBig in the second quarter worth $55,000. CSS LLC IL bought a new position in shares of SpringBig in the second quarter worth $56,000. Finally, Millennium Management LLC bought a new position in shares of SpringBig in the second quarter worth $467,000. Institutional investors own 11.54% of the company's stock.

SpringBig Stock Up 14.4 %

SpringBig (NASDAQ:SBIG – Get Rating) last issued its earnings results on Monday, November 14th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $7.46 million during the quarter, compared to analyst estimates of $7.00 million. Research analysts predict that SpringBig will post -0.49 earnings per share for the current year.

SpringBig Company Profile

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SpringBig Holdings, Inc operates a software platform that provides customer loyalty and marketing automation solutions to cannabis retailers and brands in the United States and Canada. The company's platform connects consumers with retailers and brands through SMS marketing, emails, customer feedback system, and loyalty programs to support retailers and brands customer engagement and retention.

Further Reading

• Get a free copy of the StockNews.com research report on SpringBig (SBIG)
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