Hour Loop (NASDAQ:HOUR) Issues Quarterly Earnings Results, Meets Expectations

Hour Loop (NASDAQ:HOUR) announced its earnings results on Tuesday. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03, FiscalAI reports. Hour Loop had a net margin of 1.28% and a return on equity of 25.29%. The business had revenue of $33.94 million during the quarter, compared to analysts’ expectations of $29.66 million.

Hour Loop Stock Down 2.1%

HOUR traded down $0.04 during midday trading on Wednesday, reaching $1.90. The company had a trading volume of 10,217 shares, compared to its average volume of 53,160. Hour Loop has a 1 year low of $1.24 and a 1 year high of $6.84. The company has a market cap of $66.86 million, a P/E ratio of 38.01 and a beta of 1.38. The business has a 50-day moving average of $1.91 and a two-hundred day moving average of $1.94.

Institutional Investors Weigh In On Hour Loop

A hedge fund recently bought a new position in Hour Loop stock. Two Sigma Investments LP bought a new position in shares of Hour Loop, Inc. (NASDAQ:HOUR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 54,226 shares of the company’s stock, valued at approximately $159,000. Two Sigma Investments LP owned 0.15% of Hour Loop at the end of the most recent quarter. Institutional investors and hedge funds own 0.31% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Hour Loop from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Hour Loop Company Profile

Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells products in various categories, including home/garden décor, toys, kitchenware, apparels, and electronics products. It sells its products through hourloop.com, as well as third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.