Short Interest in Torrid Holdings Inc. (NYSE:CURV) Rises By 55.1%

Torrid Holdings Inc. (NYSE:CURV) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 3,070,000 shares, an increase of 55.1% from the January 31st total of 1,980,000 shares. Based on an average daily volume of 477,100 shares, the short-interest ratio is currently 6.4 days. Approximately 14.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Torrid

A number of hedge funds have recently bought and sold shares of CURV. Nomura Holdings Inc. bought a new position in shares of Torrid in the fourth quarter worth about $14,240,000. Centiva Capital LP bought a new position in Torrid in the 3rd quarter worth approximately $3,930,000. Bank of America Corp DE lifted its holdings in shares of Torrid by 4,794.2% during the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company’s stock worth $2,215,000 after buying an additional 414,942 shares during the last quarter. Shay Capital LLC boosted its position in shares of Torrid by 140.2% in the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock valued at $2,505,000 after acquiring an additional 279,521 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Torrid by 103.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock worth $2,288,000 after acquiring an additional 222,504 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors.

Torrid Price Performance

Shares of CURV stock traded up $0.10 during trading on Monday, reaching $6.10. The company had a trading volume of 304,346 shares, compared to its average volume of 319,521. The firm’s 50 day simple moving average is $6.03 and its two-hundred day simple moving average is $5.05. Torrid has a one year low of $2.18 and a one year high of $9.14. The company has a market capitalization of $639.02 million, a PE ratio of 40.67, a PEG ratio of 1.03 and a beta of 1.97.

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

Analyst Ratings Changes

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

Torrid Company Profile

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.