Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Sees Significant Increase in Short Interest

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 679,124 shares, an increase of 60.7% from the August 15th total of 422,474 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 219,241 shares, the days-to-cover ratio is presently 3.1 days.

Sportsman’s Warehouse Trading Down 1.7%

NASDAQ SPWH opened at $1.17 on Friday. The firm’s 50-day moving average is $1.18 and its two-hundred day moving average is $1.29. Sportsman’s Warehouse has a 12 month low of $1.08 and a 12 month high of $3.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.17 and a quick ratio of 0.07. The stock has a market capitalization of $45.79 million, a P/E ratio of -0.95 and a beta of 0.42.

Sportsman’s Warehouse (NASDAQ:SPWH) last announced its quarterly earnings results on Tuesday, September 1st. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $295.58 million during the quarter, compared to analysts’ expectations of $295.05 million. Sportsman’s Warehouse had a negative net margin of 3.94% and a negative return on equity of 10.50%. On average, sell-side analysts anticipate that Sportsman’s Warehouse will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in shares of Sportsman’s Warehouse in the 2nd quarter valued at $28,000. Two Sigma Securities LLC purchased a new position in Sportsman’s Warehouse during the 2nd quarter valued at about $25,000. JB Capital Partners LP purchased a new position in Sportsman’s Warehouse during the 2nd quarter valued at about $2,275,356. Empowered Funds LLC grew its position in Sportsman’s Warehouse by 5.6% in the 1st quarter. Empowered Funds LLC now owns 203,195 shares of the company’s stock valued at $287,000 after acquiring an additional 10,837 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Sportsman’s Warehouse in the 1st quarter valued at about $170,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPWH has been the subject of several research reports. Wall Street Zen upgraded Sportsman’s Warehouse from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research downgraded shares of Sportsman’s Warehouse from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Sportsman’s Warehouse from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.12.

Sportsman’s Warehouse Company Profile

Sportsman’s Warehouse Holdings, Inc operates specialty sporting-goods stores and an e-commerce platform serving outdoor enthusiasts in the United States. The company focuses on products for hunting, shooting, fishing, camping, hiking and other outdoor activities.

Its merchandise includes firearms, ammunition, archery equipment, fishing tackle, camping gear, outdoor footwear and apparel, optics, knives, footwear, and related accessories. Sportsman’s Warehouse also provides services such as firearm transfers, gunsmithing, hunting and fishing licenses, and equipment-related support at select locations.

Founded in 1986, the company is headquartered in Utah and has historically maintained a store presence concentrated in the western United States, including Alaska, while its online business allows it to serve customers more broadly.