Torrid (NYSE:CURV) Sees Strong Trading Volume – Should You Buy?

Torrid Holdings Inc. (NYSE:CURV) saw unusually-strong trading volume on Wednesday . Approximately 932,021 shares were traded during mid-day trading, an increase of 211% from the previous session’s volume of 299,539 shares.The stock last traded at $6.27 and had previously closed at $6.68.

Analyst Ratings Changes

Several analysts have issued reports on CURV shares. Morgan Stanley increased their price objective on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group decreased their price objective on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group dropped their target price on Torrid from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Finally, Bank of America began coverage on Torrid in a research note on Friday, December 6th. They set a “buy” rating and a $5.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

Torrid Stock Up 0.9 %

The company has a 50 day moving average of $5.45 and a 200-day moving average of $5.26. The stock has a market capitalization of $673.61 million, a P/E ratio of 42.87, a PEG ratio of 2.07 and a beta of 1.96.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. Equities analysts forecast that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

Several large investors have recently bought and sold shares of the stock. Centiva Capital LP acquired a new position in shares of Torrid during the third quarter valued at approximately $3,930,000. Geode Capital Management LLC increased its position in shares of Torrid by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after purchasing an additional 26,703 shares during the period. GSA Capital Partners LLP raised its stake in shares of Torrid by 87.3% in the 3rd quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after buying an additional 50,439 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Torrid by 15.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,722 shares of the company’s stock valued at $532,000 after buying an additional 13,781 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Torrid during the third quarter valued at about $166,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

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.