StockNews.com Initiates Coverage on Xcel Brands (NASDAQ:XELB)

StockNews.com initiated coverage on shares of Xcel Brands (NASDAQ:XELB) in a research report released on Friday morning. The brokerage issued a sell rating on the textile maker’s stock.

Xcel Brands Stock Down 4.0 %

Xcel Brands stock traded down $0.03 during midday trading on Friday, hitting $0.73. The stock had a trading volume of 31,537 shares, compared to its average volume of 18,119. Xcel Brands has a 52-week low of $0.58 and a 52-week high of $1.70. The firm’s fifty day moving average is $0.75 and its two-hundred day moving average is $0.71. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 0.08.

Xcel Brands (NASDAQ:XELB) last announced its quarterly earnings data on Wednesday, August 14th. The textile maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.08. Xcel Brands had a negative return on equity of 20.74% and a negative net margin of 179.30%. The business had revenue of $2.95 million for the quarter, compared to the consensus estimate of $2.98 million. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, equities analysts expect that Xcel Brands will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xcel Brands

Several institutional investors have recently bought and sold shares of XELB. Levin Capital Strategies L.P. purchased a new stake in shares of Xcel Brands in the first quarter worth about $86,000. Perritt Capital Management Inc. boosted its holdings in shares of Xcel Brands by 31.6% in the 1st quarter. Perritt Capital Management Inc. now owns 606,858 shares of the textile maker’s stock worth $473,000 after purchasing an additional 145,833 shares during the period. Finally, AWM Investment Company Inc. purchased a new position in Xcel Brands during the first quarter worth $600,000. 18.55% of the stock is owned by hedge funds and other institutional investors.

Xcel Brands Company Profile

Xcel Brands, Inc, together with its subsidiaries, operates as a media and consumer products company in the United States. The company designs, produces, markets, wholesales, and sells branded apparel, footwear, accessories, jewelry, home goods, and other consumer products; and acquires consumer lifestyle brands, including the Isaac Mizrahi, the LOGO by Lori Goldstein, the Judith Ripka, the Halston brand, the C Wonder, the TowerHill by Christie Brinkley brand (the CB brand), and other brands, as well as manages the Longaberger brand.