Short Interest in Torrid Holdings Inc. (NYSE:CURV) Rises By 6.9%

Torrid Holdings Inc. (NYSE:CURV) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,860,000 shares, an increase of 6.9% from the May 31st total of 1,740,000 shares. Currently, 17.4% of the company’s shares are short sold. Based on an average daily volume of 75,700 shares, the short-interest ratio is presently 24.6 days.

Torrid Trading Down 0.1 %

CURV stock opened at $7.80 on Thursday. The stock has a market capitalization of $813.93 million, a price-to-earnings ratio of 70.92 and a beta of 2.04. The firm’s 50-day moving average price is $6.29 and its two-hundred day moving average price is $5.41. Torrid has a 12-month low of $1.21 and a 12-month high of $7.98.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Wednesday, June 12th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Torrid had a negative return on equity of 5.79% and a net margin of 1.05%. The company had revenue of $279.77 million for the quarter, compared to the consensus estimate of $280.15 million. During the same quarter in the previous year, the business earned $0.11 EPS. Torrid’s revenue was down 4.8% compared to the same quarter last year. Equities analysts predict that Torrid will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Torrid

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC purchased a new position in Torrid during the 4th quarter valued at $62,000. Great Lakes Advisors LLC purchased a new position in shares of Torrid during the fourth quarter valued at about $93,000. O Shaughnessy Asset Management LLC raised its stake in Torrid by 145.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock worth $416,000 after buying an additional 50,466 shares in the last quarter. Finally, Fund 1 Investments LLC lifted its holdings in Torrid by 493.6% in the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after buying an additional 166,841 shares during the period. Institutional investors own 81.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Torrid from $2.95 to $5.75 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Telsey Advisory Group lifted their price objective on Torrid from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Torrid currently has a consensus rating of “Hold” and an average price target of $4.79.

About Torrid

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.