Finance of America Companies Inc. (NYSE:FOA) Sees Large Drop in Short Interest

Posted by Stacy Sanders on Jul 25th, 2024

Finance of America Companies Inc. (NYSE:FOA – Get Free Report) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 341,000 shares, a decrease of 76.3% from the June 30th total of 1,440,000 shares. Based on an average trading volume of 274,400 shares, the short-interest ratio is presently 1.2 days. Currently, 1.0% of the shares of the company are short sold.

Finance of America Companies Price Performance

FOA traded down $0.02 on Thursday, hitting $0.75. 63,072 shares of the stock were exchanged, compared to its average volume of 173,679. Finance of America Companies has a 12 month low of $0.41 and a 12 month high of $2.05. The business has a 50-day moving average of $0.60 and a two-hundred day moving average of $0.72. The company has a debt-to-equity ratio of 69.71, a current ratio of 2.84 and a quick ratio of 2.84. The firm has a market capitalization of $74.26 million, a price-to-earnings ratio of -0.62 and a beta of 1.04.

Shares of Finance of America Companies are going to reverse split on the morning of Friday, July 26th. The 1-10 reverse split was announced on Friday, July 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, July 26th.

Finance of America Companies (NYSE:FOA – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $74.68 million during the quarter, compared to analyst estimates of $59.00 million. Sell-side analysts forecast that Finance of America Companies will post -0.04 EPS for the current fiscal year.

About Finance of America Companies

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Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.