Stitch Fix, Inc. (NASDAQ:SFIX) Short Interest Up 23.3% in December

Stitch Fix, Inc. (NASDAQ:SFIX) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 8,110,000 shares, an increase 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.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Stitch Fix

Institutional investors have recently modified their holdings of the stock. Caprock Group LLC purchased a new stake in shares of Stitch Fix in the third quarter worth approximately $33,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Stitch Fix during the third quarter valued at about $36,000. Meeder Asset Management Inc. bought a new stake in shares of Stitch Fix in the 3rd quarter valued at about $44,000. Pallas Capital Advisors LLC purchased a new position in shares of Stitch Fix in the 4th quarter worth approximately $46,000. Finally, CWM LLC raised its stake in shares of Stitch Fix by 112.1% during the 3rd quarter. CWM LLC now owns 25,175 shares of the company’s stock worth $71,000 after acquiring an additional 13,308 shares in the last quarter. 71.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SFIX shares. UBS Group upped their target price 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. Telsey Advisory Group upped their price objective on Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group increased their target price on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.96.

Stitch Fix Stock Down 3.4 %

Stitch Fix stock traded down $0.18 during midday trading on Friday, reaching $5.05. 2,082,751 shares of the stock traded hands, compared to its average volume of 3,751,727. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $6.99. The stock’s fifty day moving average is $4.39 and its 200-day moving average is $3.89. The stock has a market cap of $640.54 million, a P/E ratio of -6.08 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) 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 company had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Stitch Fix’s revenue was down 12.6% on a year-over-year basis. On average, equities analysts predict that Stitch Fix will post -0.44 EPS for the current fiscal year.

Stitch Fix Company Profile

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.