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F I N A N C I A L
SHORT INTEREST DATA & ANALYSIS Short interest has generally declined across the industry as the markets reached their mid-March and COVID-19 induced lows. Industry-wide days to cover fell to 2.4, the lowest level since a recorded 1.5 in August of 2020. n USNA fell to 6.9 days to cover, the stock’s lowest levels since July of 2020 n PRI fell to 1.5 days to cover, its lowest level since the TDSI began tracking in March of 2020 n EXPI short interest dropped to 0.7—its lowest levels since the TDSI began tracking data The number of sell-side analysts maintaining “buy” and
A N A L Y S I S
“hold” ratings on industry stocks remained flat at 97 percent, but the number of analysts recommending “hold” as opposed to “buy” increased slightly. The number of analysts recommending “sell” remained sparse. “Looking forward into the remainder of 2021, we see continued strength across the industry, and, from a financial results and stock performance perspective, particularly in the first quarter,” Johnson said. “We believe business will remain strong through the year. However, as we move into the second quarter and beyond, the year-over-year comparables will become more and more difficult to replicate and exceed.” DSN
DIRECT SELLING CAPITAL ADVISORS is a boutique investment banking, business development and corporate finance advisory firm primarily focused on the direct selling vertical, as well as ancillary businesses. Located in Dallas, Texas, Direct Selling Capital’s core service offerings include both buy and sell-side M&A advisory, equity and debt financing, as well as joint venture and partnership opportunities. For more information please contact us at: info@directsellingcapital.com This is a summarized report; for more information, please contact info@directsellingcapital.com.
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APRIL 2021
