Short Interest in Gen Digital Inc. (NASDAQ:GEN) Declines By 14.8%

Gen Digital Inc. (NASDAQ:GEN) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 14,630,000 shares, a decline of 14.8% from the October 15th total of 17,170,000 shares. Based on an average daily volume of 3,150,000 shares, the short-interest ratio is currently 4.6 days. Currently, 2.6% of the shares of the company are sold short.

Gen Digital Stock Performance

Gen Digital stock traded down $0.17 during mid-day trading on Monday, hitting $29.28. 2,002,089 shares of the company’s stock traded hands, compared to its average volume of 4,121,673. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 3.40. Gen Digital has a one year low of $19.08 and a one year high of $30.89. The firm has a 50 day moving average price of $27.70 and a 200 day moving average price of $25.79. The company has a market cap of $18.04 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.38 and a beta of 0.80.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 18th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.71%. The ex-dividend date is Monday, November 18th. Gen Digital’s payout ratio is currently 51.02%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Thursday, October 24th.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.