Warby Parker Inc. (NYSE:WRBY) Short Interest Down 20.3% in January

Warby Parker Inc. (NYSE:WRBY) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 10,549,384 shares, a decrease of 20.3% from the December 31st total of 13,241,691 shares. Based on an average daily trading volume, of 4,534,016 shares, the days-to-cover ratio is presently 2.3 days. Currently, 12.2% of the company’s stock are sold short. Currently, 12.2% of the company’s stock are sold short. Based on an average daily trading volume, of 4,534,016 shares, the days-to-cover ratio is presently 2.3 days.

Warby Parker Stock Down 5.3%

Shares of WRBY stock traded down $1.42 during trading on Friday, hitting $25.44. The company had a trading volume of 3,026,216 shares, compared to its average volume of 3,414,741. The stock’s 50-day moving average is $24.75 and its two-hundred day moving average is $24.09. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 2,544.00 and a beta of 2.05. Warby Parker has a 52 week low of $13.63 and a 52 week high of $31.00.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $221.68 million during the quarter, compared to analysts’ expectations of $224.49 million. Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.Warby Parker’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. On average, research analysts predict that Warby Parker will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WRBY. Wall Street Zen cut Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, December 10th. UBS Group cut their target price on Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Robert W. Baird set a $35.00 price target on Warby Parker in a research report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.38.

Insider Activity at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 38,832 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the transaction, the director directly owned 27,057 shares in the company, valued at approximately $786,546.99. This trade represents a 58.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total transaction of $1,354,000.00. Following the completion of the sale, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $1,005,182.52. The trade was a 57.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp raised its holdings in shares of Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after acquiring an additional 861 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Warby Parker by 400.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock worth $35,000 after acquiring an additional 1,281 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Warby Parker in the 4th quarter worth approximately $35,000. Finally, Huntington National Bank boosted its stake in shares of Warby Parker by 111.0% in the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after purchasing an additional 881 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.