Torrid (NYSE:CURV) Shares Gap Down – Here’s What Happened

Torrid Holdings Inc. (NYSE:CURV)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $5.34, but opened at $4.88. Torrid shares last traded at $5.06, with a volume of 96,280 shares changing hands.

Analysts Set New Price Targets

CURV has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group upped their target price on Torrid from $5.00 to $6.00 and gave the stock a “market perform” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group cut Torrid from a “neutral” rating to a “sell” rating and set a $4.00 target price on the stock. in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.75.

Torrid Price Performance

The stock’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.06. The firm has a market cap of $541.43 million, a PE ratio of 34.56, a PEG ratio of 1.03 and a beta of 1.96.

Torrid (NYSE:CURV) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The business had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. Analysts expect that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in Torrid by 27.1% in the 1st quarter. Rhumbline Advisers now owns 21,886 shares of the company’s stock worth $120,000 after purchasing an additional 4,673 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Torrid during the 4th quarter valued at approximately $80,000. State of Wyoming purchased a new stake in Torrid in the 4th quarter worth $570,000. Shay Capital LLC raised its position in Torrid by 140.2% during the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock worth $2,505,000 after acquiring an additional 279,521 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in Torrid during the fourth quarter valued at $14,240,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.

Torrid Company Profile

Torrid Holdings Inc operates in women’s plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.