Xcel Brands (NASDAQ:XELB) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Xcel Brands, Inc (NASDAQ:XELB)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.77 and traded as high as $2.20. Xcel Brands shares last traded at $2.11, with a volume of 18,004 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Xcel Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Xcel Brands Stock Down 1.9%

The company has a market cap of $12.47 million, a price-to-earnings ratio of -0.45 and a beta of 1.16. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average price is $1.77 and its 200-day moving average price is $1.47.

Xcel Brands (NASDAQ:XELB) last announced its earnings results on Thursday, May 14th. The textile maker reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.22. The firm had revenue of $1.14 million during the quarter, compared to analyst estimates of $1.65 million. Xcel Brands had a negative net margin of 361.04% and a negative return on equity of 77.85%. Sell-side analysts predict that Xcel Brands, Inc will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Xcel Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in XELB. Citadel Advisors LLC bought a new stake in Xcel Brands during the 3rd quarter worth about $88,000. Potomac Capital Management Inc. bought a new stake in Xcel Brands during the 4th quarter worth about $441,000. Finally, DRW Securities LLC lifted its position in Xcel Brands by 98.1% during the 4th quarter. DRW Securities LLC now owns 34,434 shares of the textile maker’s stock worth $37,000 after buying an additional 17,053 shares in the last quarter. 18.55% of the stock is owned by institutional investors.

About Xcel Brands

Xcel Brands, Inc (NASDAQ: XELB) is a lifestyle brand management company that acquires, develops and markets consumer product brands spanning fashion, entertainment and home categories. The company works with designers, celebrities and entertainment properties to create branded apparel, accessories, jewelry and home décor collections. Its portfolio includes licensed and proprietary brands such as Judith Ripka, Isaac Mizrahi and Simple Joys by Carter’s, among others.

The company’s business model centers on sourcing creative talent and intellectual property, then leveraging an in-house product development team to design collections that are manufactured by third-party partners.