LendingClub Corporation (LC): Price Target and June Short Interest Disclosure

LendingClub Corporation (LC) : 8 Wall Street analysts covering LendingClub Corporation (LC) believe that the average level the stock could reach for the short term is $5.39. The maximum price target given is $11 and the minimum target for short term is around $2, hence the standard deviation is calculated at $3.07.

LendingClub Corporation (LC) reported a rise of 22.1% or 11,862,966 shares in its short interest. The short figure came in at 23.6% of the total floats. The average daily volume of 16,312,642 shares suggests that the days to cover 65,439,143 short positions, as on June 30,2016, will be 4. On June 15,2016, the short interest was 53,576,177 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Goldman Sachs maintains its rating on LendingClub Corporation (NYSE:LC). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Goldman Sachs raises the price target from $4.3 per share to $4.7 per share. The rating by the firm was issued on June 29, 2016.


LendingClub Corporation (NYSE:LC): stock turned positive on Thursday. Though the stock opened at $4.3, the bulls momentum made the stock top out at $4.52 level for the day. The stock recorded a low of $4.21 and closed the trading day at $4.51, in the green by 6.12%. The total traded volume for the day was 11,423,466. The stock had closed at $4.25 in the previous days trading.

LendingClub Corporation (Lending Club) is engaged in providing online marketplace for connecting borrowers and investors. The Companys online marketplace connects borrowers. Lending Clubs marketplace allows borrowers and investors to engage in transactions relating to standard or custom program loans. The Companys standard program loans are a part of the standard loan program. The standard program loans are three- or five-year unsecured personal loans which are offered to borrowers. These loans can be invested in through the purchase of notes issued pursuant to a Note Registration Statement, and are available through the Companys Website. The custom program loans include small business loans, super prime consumer loans, education and patient finance loans and personal loans. The Companys technology platform supports its marketplace and makes available loan products to investor channels.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.