Short Interest in Vera Bradley, Inc. (NASDAQ:VRA) Decreases By 20.9%

Vera Bradley, Inc. (NASDAQ:VRA) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totaling 1,111,912 shares, a decline of 20.9% from the March 15th total of 1,405,998 shares. Based on an average daily volume of 299,060 shares, the short-interest ratio is presently 3.7 days. Approximately 4.5% of the company’s stock are sold short.

Vera Bradley Price Performance

Shares of NASDAQ:VRA traded up $0.01 during midday trading on Friday, hitting $3.79. 44,042 shares of the company’s stock were exchanged, compared to its average volume of 354,288. The stock has a 50 day moving average price of $3.10 and a 200-day moving average price of $2.66. The company has a market cap of $105.87 million, a PE ratio of -2.19 and a beta of 1.59. Vera Bradley has a 12 month low of $1.39 and a 12 month high of $4.02.

Vera Bradley (NASDAQ:VRA) last posted its earnings results on Thursday, March 12th. The textile maker reported $0.09 EPS for the quarter, topping the consensus estimate of $0.01 by $0.08. The company had revenue of $84.89 million during the quarter, compared to the consensus estimate of $79.73 million. Vera Bradley had a negative net margin of 17.74% and a negative return on equity of 12.00%. On average, analysts anticipate that Vera Bradley will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new position in Vera Bradley during the second quarter worth about $28,000. Qube Research & Technologies Ltd purchased a new position in Vera Bradley in the third quarter valued at about $49,000. Emissary Wealth LLC purchased a new position in Vera Bradley in the fourth quarter valued at about $51,000. Simplex Trading LLC boosted its stake in Vera Bradley by 55.0% in the fourth quarter. Simplex Trading LLC now owns 35,083 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 12,442 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Vera Bradley by 266.8% in the second quarter. Corient Private Wealth LLC now owns 41,000 shares of the textile maker’s stock valued at $91,000 after acquiring an additional 29,823 shares during the last quarter. 59.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VRA shares. Zacks Research raised shares of Vera Bradley from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Wall Street Zen raised shares of Vera Bradley from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Vera Bradley Company Profile

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.