Short Interest in Stitch Fix, Inc. (NASDAQ:SFIX) Grows By 18.3%

Stitch Fix, Inc. (NASDAQ:SFIX) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 10,360,000 shares, an increase of 18.3% from the February 13th total of 8,760,000 shares. Based on an average daily volume of 3,480,000 shares, the short-interest ratio is presently 3.0 days. Currently, 9.8% of the company’s stock are short sold.

Stitch Fix Stock Performance

SFIX opened at $3.60 on Thursday. The company has a market cap of $456.62 million, a PE ratio of -4.34 and a beta of 2.13. The stock has a 50-day moving average of $4.77 and a 200-day moving average of $4.08. 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, March 11th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The firm had revenue of $312.11 million during the quarter, compared to the consensus estimate of $298.04 million. During the same quarter in the prior year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, research analysts predict that Stitch Fix will post -0.44 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SFIX. UBS Group upped their target price on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group upped their price target on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Institutional Trading of Stitch Fix

A number of hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its position in shares of Stitch Fix by 1.5% in the 4th quarter. Rhumbline Advisers now owns 149,625 shares of the company’s stock worth $645,000 after acquiring an additional 2,255 shares during the period. Corebridge Financial Inc. lifted its position in shares of Stitch Fix by 4.8% in the 4th quarter. Corebridge Financial Inc. now owns 50,355 shares of the company’s stock worth $217,000 after acquiring an additional 2,295 shares during the period. Federated Hermes Inc. lifted its position in shares of Stitch Fix by 4.1% in the 4th quarter. Federated Hermes Inc. now owns 96,504 shares of the company’s stock worth $416,000 after acquiring an additional 3,771 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Stitch Fix in the 4th quarter worth approximately $29,000. Finally, Cerity Partners LLC lifted its position in shares of Stitch Fix by 31.1% in the 4th quarter. Cerity Partners LLC now owns 29,452 shares of the company’s stock worth $124,000 after acquiring an additional 6,993 shares during the period. Institutional investors own 71.04% of the company’s stock.

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.