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

Torrid Holdings Inc. (NYSE:CURV) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,860,000 shares, a growth of 6.9% from the May 31st total of 1,740,000 shares. Approximately 17.4% of the shares of the stock are sold short. Based on an average daily volume of 75,700 shares, the days-to-cover ratio is presently 24.6 days.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Torrid from $2.95 to $5.75 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Telsey Advisory Group raised their target price on Torrid from $6.00 to $8.00 and gave the company 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 assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.79.

Torrid Trading Down 0.1 %

NYSE:CURV traded down $0.01 on Wednesday, hitting $7.80. The company had a trading volume of 157,155 shares, compared to its average volume of 103,614. The firm has a 50 day moving average of $6.23 and a two-hundred day moving average of $5.39. The stock has a market capitalization of $813.93 million, a price-to-earnings ratio of 71.01 and a beta of 2.04. Torrid has a 52 week low of $1.21 and a 52 week high of $7.98.

Torrid (NYSE:CURV) last posted its earnings results on Wednesday, June 12th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $279.77 million for the quarter, compared to the consensus estimate of $280.15 million. Torrid had a net margin of 1.05% and a negative return on equity of 5.79%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. As a group, equities analysts forecast 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 CURV. Fund 1 Investments LLC lifted its position in shares of Torrid by 493.6% in the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after purchasing an additional 166,841 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Torrid by 145.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after buying an additional 50,466 shares during the period. Great Lakes Advisors LLC bought a new stake in Torrid during the fourth quarter valued at $93,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Torrid during the 4th quarter worth about $62,000. 81.82% of the stock is owned by institutional investors and hedge funds.

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.