Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Sees Large Growth in Short Interest

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 637,000 shares, an increase of 47.2% from the February 28th total of 432,600 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 574,900 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Separately, B. Riley upgraded Sportsman’s Warehouse from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $4.00 in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.20.

Hedge Funds Weigh In On Sportsman’s Warehouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sportsman’s Warehouse in the 3rd quarter worth about $168,000. FMR LLC boosted its stake in shares of Sportsman’s Warehouse by 3.3% in the third quarter. FMR LLC now owns 5,441,705 shares of the company’s stock worth $14,747,000 after acquiring an additional 174,858 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in shares of Sportsman’s Warehouse during the third quarter worth approximately $2,565,000. Jane Street Group LLC raised its stake in Sportsman’s Warehouse by 16.6% in the 3rd quarter. Jane Street Group LLC now owns 225,473 shares of the company’s stock valued at $611,000 after purchasing an additional 32,073 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Sportsman’s Warehouse in the 3rd quarter valued at $107,000. 83.04% of the stock is owned by hedge funds and other institutional investors.

Sportsman’s Warehouse Price Performance

Shares of SPWH stock traded up $0.02 during trading hours on Monday, hitting $1.03. 412,368 shares of the company’s stock were exchanged, compared to its average volume of 520,170. The firm has a 50 day moving average of $1.57 and a two-hundred day moving average of $2.19. Sportsman’s Warehouse has a fifty-two week low of $0.92 and a fifty-two week high of $4.44. The firm has a market cap of $38.91 million, a P/E ratio of -1.16 and a beta of 0.53. The company has a quick ratio of 0.06, a current ratio of 1.20 and a debt-to-equity ratio of 0.10.

About Sportsman’s Warehouse

Sportsman’s Warehouse Holdings, Inc engages in the retail of sporting and athletic goods. Its products include hunting and shooting, archery, fishing, camping, boating accessories, optics and electronics, knives and tools, and footwear. The company was founded in 1986 and is headquartered in West Jordan, UT.