Short Interest in Stitch Fix, Inc. (NASDAQ:SFIX) Rises By 23.3%

Stitch Fix, Inc. (NASDAQ:SFIX) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 8,110,000 shares, a growth of 23.3% from the December 15th total of 6,580,000 shares. Based on an average daily volume of 3,170,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Telsey Advisory Group raised their price target on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, UBS Group upped their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.96.

Insider Buying and Selling at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the sale, the insider now owns 913,962 shares of the company’s stock, valued at $4,213,364.82. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

A number of hedge funds and other institutional investors have recently bought and sold shares of SFIX. Creative Planning increased its position in shares of Stitch Fix by 32.1% during the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after acquiring an additional 6,194 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Stitch Fix by 7.7% in the 2nd quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock worth $393,000 after purchasing an additional 6,739 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Stitch Fix in the fourth quarter worth $46,000. Virtus Investment Advisers Inc. lifted its holdings in shares of Stitch Fix by 11.1% during the third quarter. Virtus Investment Advisers Inc. now owns 117,185 shares of the company’s stock valued at $330,000 after purchasing an additional 11,735 shares in the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Stitch Fix during the third quarter valued at $33,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Stitch Fix Trading Down 3.4 %

Shares of SFIX stock traded down $0.18 during mid-day trading on Friday, reaching $5.05. The stock had a trading volume of 2,082,751 shares, compared to its average volume of 3,751,727. The firm has a market capitalization of $640.54 million, a PE ratio of -6.08 and a beta of 1.99. The stock’s 50-day moving average price is $4.39 and its two-hundred day moving average price is $3.89. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $6.99.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, equities research analysts forecast that Stitch Fix will post -0.44 earnings per share for the current year.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.