Stitch Fix, Inc. (NASDAQ:SFIX) Short Interest Up 19.7% in April

Stitch Fix, Inc. (NASDAQ:SFIX) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 16,066,655 shares, an increase of 19.7% from the March 31st total of 13,424,562 shares. Approximately 14.0% of the company’s shares are short sold. Based on an average daily volume of 1,841,956 shares, the short-interest ratio is currently 8.7 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SFIX shares. Wall Street Zen downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group lowered their price objective on shares of Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. William Blair reissued a “mixed” rating on shares of Stitch Fix in a research report on Friday, March 6th. Telsey Advisory Group decreased their price target on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stitch Fix in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $5.00.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O’connor sold 60,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3.08, for a total transaction of $184,800.00. Following the completion of the transaction, the insider owned 480,334 shares of the company’s stock, valued at $1,479,428.72. This represents a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katrina Lake sold 8,835 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $5.01, for a total transaction of $44,263.35. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 134,544 shares of company stock worth $432,104. Corporate insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in Stitch Fix during the third quarter valued at approximately $32,000. Farther Finance Advisors LLC increased its holdings in shares of Stitch Fix by 52.1% in the 4th quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock valued at $51,000 after purchasing an additional 3,329 shares during the period. Royal Bank of Canada increased its holdings in shares of Stitch Fix by 324.6% in the 4th quarter. Royal Bank of Canada now owns 10,998 shares of the company’s stock valued at $57,000 after purchasing an additional 8,408 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Stitch Fix in the 3rd quarter valued at about $50,000. Finally, First Dallas Securities Inc. acquired a new position in Stitch Fix in the first quarter worth approximately $38,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Stock Up 4.1%

Shares of NASDAQ SFIX opened at $3.79 on Friday. Stitch Fix has a fifty-two week low of $2.95 and a fifty-two week high of $5.94. The firm’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $4.23. The stock has a market cap of $517.41 million, a P/E ratio of -29.15 and a beta of 2.33.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Stitch Fix had a negative net margin of 1.89% and a negative return on equity of 12.23%. The business had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $334.74 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Stitch Fix will post -0.19 earnings per share for the current fiscal year.

Stitch Fix Company Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.