Short interest in Torrid Holdings, Inc. (NYSE: CURV) fell by a sizeable amount over August. As of August 15th, 2,580,000 shares had been borrowed, a decrease of 9.2% from the sum of 2,840,000 borrowed as of July 31st. Currently, the days-to-cover ratio is at 4.9, and when an average daily trading volume of 531,100 shares is considered, this results in a balance. There have been discussions regarding CURV held at various research companies. In a research note issued on August 4th, Telsey Advisory Group lowered their “outperform” rating on Torrid stock and lowered their target price from $12.00 to $8.00. The note was issued in conjunction with the reduction of the target price. In a research note published on Friday, July 15th, Cowen decreased their price objective for Torrid from $11.00 to $7.00 and modified their rating for the company from “outperform” to “market perform.” In a research note published on Friday, July 15th, Cowen dropped their recommendation on Torrid stock, reducing it from “outperform” to “market perform.”
In a research report that was issued on Thursday, July 21st, Goldman Sachs Group decreased their price target on Torrid stock from $5.50 to $4.00 and gave the company a “neutral” rating in a research report. The study was about the business’s stock. The research was conducted on Torrid. In a research note published on June 8th, Morgan Stanley finally decreased their price objective on Torrid shares from $11.00 to $7.00 and classified the company as “equal weight.” Two experts have assigned the business a buy rating, while four others have suggested that investors hold onto their shares. The general opinion about Torrid is that investors should “Hold” their claims, and the average price target established for the business is $8.83. Bloomberg has provided this information. Torrid’s stock opened on Wednesday at $5.81 per share and remained there throughout the day.
Throughout its 52-week trading period, the price of Torrid has fluctuated between $3.70 and $25.02 at various points. On June 7th, Torrid’s most recent quarterly earnings report, traded on the NYSE under the symbol CURV, was made public. The company reported an earnings per share figure for the quarter of $0.23, which was $0.03 more than the estimate floating around the internet, which was $0.20. The actual revenue for the quarter came in at $328.40 million, which was much more than the analysts’ average forecast of $303.92 million for the amount of income generated during the quarter. Torrid had a negative return on equity of 45.44 percent, and the company also had a negative net margin of 1.47 percent. Torrid’s revenue for the most recent quarter was up by.8% compared to the same time in 2017 when it was measured against itself. Sell-side analysts forecast Torrid will generate an EPS per share of 0.8 cents during the current fiscal year.
This projection is based on Torrid’s historical performance. Several hedge funds have, in recent times, modified how they invest in CURV to take advantage of new opportunities. During the second quarter, Principal Financial Group Inc. bought more shares of Torrid stock for a total of $46,000 to add to its holdings in the company. Point72 Hong Kong Ltd. invested $49,000 in Torrid during the first three months of 2018 to acquire a new interest in the company. During the first three months of the year, JPMorgan Chase & Co. raised the percentage of Torrid that it already owned by 76.7%. Following the acquisition of 3,750 new shares over the preceding three months, JPMorgan Chase & Co. now has a total holding of 8,640 shares of the company’s stock, which is presently valued at $52,000. It was made possible by the recent purchase of 3,750 additional shares. American International Group Inc. raised the proportion of Torrid stock owned by 34.8% throughout the first three months of the year. Following the acquisition of a further 2,362 shares during the most recent quarter, American International Group Inc. now has 9,147 shares of its stock in its possession. The current market price of all of these shares is $55,000. That brings us to our final point: Qube Research & Technologies Ltd. purchased a new position in Torrid for $73,000 during the year’s first quarter.
At the moment, institutional investors and hedge funds are the owners of 85.20 percent of the company’s stock. Torrid Holdings, Inc. is a retailer that serves the female demographic in the North American market by offering both plus-size and intimate clothes to its clientele of female customers. Torrid and Torrid Curve are both brand names used for the products designed, manufactured, and sold by the firm. Torrid is a brand name, while Torrid Curve is a sub-brand of Torrid. In addition to selling clothing items such as shirts, bottoms, dresses, jeans, sportswear, intimates, sleepwear, and outerwear, it also sells non-apparel items such as accessories, shoes, and cosmetic products. Moreover, it sells shoes. In addition, it sells non-apparel items such as accessories, shoes, cosmetics, and clothing.