Hour Loop, Inc. (NASDAQ:HOUR) Short Interest Down 61.1% in July

Hour Loop, Inc. (NASDAQ:HOUR) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 26,920 shares, a drop of 61.1% from the July 15th total of 69,284 shares. Based on an average trading volume of 25,359 shares, the short-interest ratio is presently 1.1 days. Approximately 1.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Hour Loop from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Hour Loop Price Performance

Shares of Hour Loop stock traded down $0.03 during midday trading on Friday, hitting $1.94. The company had a trading volume of 7,469 shares, compared to its average volume of 19,960. Hour Loop has a 1-year low of $1.24 and a 1-year high of $6.84. The business’s 50 day simple moving average is $1.91 and its two-hundred day simple moving average is $1.94. The stock has a market cap of $68.43 million, a PE ratio of 48.61 and a beta of 1.38.

Hour Loop (NASDAQ:HOUR) last released its earnings results on Tuesday, August 11th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $33.94 million for the quarter, compared to the consensus estimate of $29.66 million. Hour Loop had a return on equity of 22.31% and a net margin of 1.14%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Hour Loop stock. Virtu Financial LLC purchased a new position in shares of Hour Loop, Inc. (NASDAQ:HOUR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,380 shares of the company’s stock, valued at approximately $26,000. 0.31% of the stock is currently owned by institutional investors.

About Hour Loop

Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells products in various categories, including home/garden décor, toys, kitchenware, apparels, and electronics products. It sells its products through hourloop.com, as well as third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.