Hour Loop, Inc. (NASDAQ:HOUR) Short Interest Down 61.1% in July

Hour Loop, Inc. (NASDAQ:HOUR) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 26,920 shares, a decline of 61.1% from the July 15th total of 69,284 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 25,359 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Hour Loop from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Hour Loop stock. Two Sigma Investments LP bought a new stake in Hour Loop, Inc. (NASDAQ:HOUR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,226 shares of the company’s stock, valued at approximately $159,000. Two Sigma Investments LP owned 0.15% of Hour Loop at the end of the most recent reporting period. Institutional investors and hedge funds own 0.31% of the company’s stock.

Hour Loop Stock Performance

Shares of HOUR stock opened at $1.97 on Friday. Hour Loop has a fifty-two week low of $1.24 and a fifty-two week high of $6.84. The company has a 50 day moving average price of $1.91 and a 200 day moving average price of $1.94. The stock has a market capitalization of $69.34 million, a P/E ratio of 49.26 and a beta of 1.38.

Hour Loop (NASDAQ:HOUR) last released its earnings results on Tuesday, August 11th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Hour Loop had a return on equity of 23.34% and a net margin of 1.14%.The firm had revenue of $33.94 million during the quarter, compared to analyst estimates of $29.66 million.

About Hour Loop

Hour Loop, Inc, an online retailer, engages in e-commerce retailing in the United States. The company sells products in various categories, including home/garden décor, toys, kitchenware, apparels, and electronics products. It sells its products through hourloop.com, as well as third-party marketplaces. Hour Loop, Inc was founded in 2013 and is headquartered in Redmond, Washington.