Xcel Brands, Inc. (NASDAQ:XELB) Short Interest Down 27.4% in June

Xcel Brands, Inc. (NASDAQ:XELB) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 25,500 shares, a drop of 27.4% from the May 31st total of 35,100 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 37,900 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Xcel Brands

Hedge funds have recently bought and sold shares of the business. AWM Investment Company Inc. purchased a new position in shares of Xcel Brands during the 1st quarter valued at approximately $600,000. Summit Trail Advisors LLC raised its holdings in Xcel Brands by 32.5% in the first quarter. Summit Trail Advisors LLC now owns 2,242,593 shares of the textile maker’s stock valued at $1,749,000 after acquiring an additional 550,453 shares in the last quarter. Perritt Capital Management Inc. raised its holdings in Xcel Brands by 31.6% in the first quarter. Perritt Capital Management Inc. now owns 606,858 shares of the textile maker’s stock valued at $473,000 after acquiring an additional 145,833 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in Xcel Brands during the 1st quarter valued at $86,000. Institutional investors and hedge funds own 18.55% of the company’s stock.

Xcel Brands Price Performance

XELB opened at $0.59 on Friday. Xcel Brands has a twelve month low of $0.59 and a twelve month high of $2.10. The firm has a market cap of $13.86 million, a price-to-earnings ratio of -0.54 and a beta of 1.47. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $0.70 and a 200 day simple moving average of $0.95.

Xcel Brands (NASDAQ:XELB) last announced its earnings results on Monday, May 20th. The textile maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. Xcel Brands had a negative return on equity of 21.92% and a negative net margin of 156.27%. The company had revenue of $2.18 million during the quarter, compared to the consensus estimate of $2.20 million. Equities research analysts expect that Xcel Brands will post -0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Xcel Brands in a research report on Monday, June 24th. They issued a “sell” rating for the company.

Xcel Brands Company Profile

Xcel Brands, Inc, together with its subsidiaries, operates as a media and consumer products company in the United States. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, home goods, and other consumer products; and acquires consumer lifestyle brands, including the Isaac Mizrahi, the LOGO by Lori Goldstein, the Judith Ripka, the Halston brand, the C Wonder, the TowerHill by Christie Brinkley brand (the CB brand), and other brands, as well as manages the Longaberger brand.