Stitch Fix, Inc. (NASDAQ:SFIX) Sees Large Growth in Short Interest

Stitch Fix, Inc. (NASDAQ:SFIX) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 8,110,000 shares, an increase of 23.3% from the December 15th total of 6,580,000 shares. Based on an average daily trading volume, of 3,170,000 shares, the days-to-cover ratio is currently 2.6 days.

Insiders Place Their Bets

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the sale, the insider now directly owns 913,962 shares of the company’s stock, valued at $4,213,364.82. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. Insiders own 16.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pallas Capital Advisors LLC purchased a new stake in Stitch Fix during the 4th quarter worth about $46,000. Caprock Group LLC bought a new position in shares of Stitch Fix during the third quarter valued at about $33,000. Wealth Enhancement Advisory Services LLC purchased a new position in Stitch Fix during the 3rd quarter valued at $36,000. Meeder Asset Management Inc. purchased a new position in shares of Stitch Fix in the 3rd quarter valued at approximately $44,000. Finally, Sei Investments Co. purchased a new position in Stitch Fix during the second quarter valued at $81,000. 71.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Telsey Advisory Group boosted their price objective on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. UBS Group increased their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group lifted their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.96.

Stitch Fix Price Performance

Shares of NASDAQ SFIX traded down $0.04 during mid-day trading on Thursday, reaching $5.23. 2,315,457 shares of the company’s stock were exchanged, compared to its average volume of 3,022,006. The firm has a market capitalization of $663.37 million, a price-to-earnings ratio of -6.30 and a beta of 1.99. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $6.99. The firm has a 50-day moving average price of $4.37 and a two-hundred day moving average price of $3.88.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $318.82 million during the quarter, compared to the consensus estimate of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period last year, the business posted ($0.30) earnings per share. As a group, sell-side analysts forecast 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.