Short Interest in Stitch Fix, Inc. (NASDAQ:SFIX) Grows By 18.3%

Stitch Fix, Inc. (NASDAQ:SFIX) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 10,360,000 shares, a growth of 18.3% from the February 13th total of 8,760,000 shares. Based on an average daily trading volume, of 3,480,000 shares, the short-interest ratio is presently 3.0 days. Approximately 9.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

SFIX has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a research note on Wednesday, March 12th. Finally, UBS Group upped their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.50.

Institutional Trading of Stitch Fix

A number of hedge funds and other institutional investors have recently modified their holdings of SFIX. Rhumbline Advisers lifted its position in Stitch Fix by 1.5% during the 4th quarter. Rhumbline Advisers now owns 149,625 shares of the company’s stock valued at $645,000 after acquiring an additional 2,255 shares during the period. Corebridge Financial Inc. increased its stake in shares of Stitch Fix by 4.8% during the fourth quarter. Corebridge Financial Inc. now owns 50,355 shares of the company’s stock valued at $217,000 after purchasing an additional 2,295 shares in the last quarter. Federated Hermes Inc. increased its position in Stitch Fix by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 96,504 shares of the company’s stock valued at $416,000 after buying an additional 3,771 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Stitch Fix in the 4th quarter worth about $29,000. Finally, Cerity Partners LLC lifted its stake in shares of Stitch Fix by 31.1% in the fourth quarter. Cerity Partners LLC now owns 29,452 shares of the company’s stock worth $124,000 after buying an additional 6,993 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Price Performance

Shares of SFIX opened at $3.52 on Friday. Stitch Fix has a one year low of $2.06 and a one year high of $6.99. The company has a 50-day simple moving average of $4.72 and a two-hundred day simple moving average of $4.07. The firm has a market capitalization of $446.47 million, a PE ratio of -4.24 and a beta of 2.13.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $312.11 million during the quarter, compared to analysts’ expectations of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) EPS. Analysts expect that Stitch Fix will post -0.44 EPS for the current fiscal year.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.