The Lovesac Company (NASDAQ:LOVE – Get Rating) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 3,880,000 shares, a growth of 13.8% from the February 13th total of 3,410,000 shares. Currently, 29.7% of the company’s stock are short sold. Based on an average trading volume of 479,600 shares, the days-to-cover ratio is currently 8.1 days.
Analysts Set New Price Targets
A number of analysts have recently commented on LOVE shares. Craig Hallum reduced their price target on shares of Lovesac from $100.00 to $60.00 in a research note on Thursday, December 8th. DA Davidson lowered their price target on Lovesac from $97.00 to $64.00 in a report on Thursday, December 8th. Finally, Canaccord Genuity Group cut their price objective on Lovesac from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac currently has a consensus rating of “Buy” and an average target price of $63.71.
Lovesac Stock Performance
NASDAQ:LOVE opened at $21.42 on Thursday. The stock has a 50-day simple moving average of $27.02 and a two-hundred day simple moving average of $24.63. Lovesac has a 52-week low of $17.60 and a 52-week high of $63.41. The firm has a market capitalization of $325.29 million, a PE ratio of 10.77, a P/E/G ratio of 0.34 and a beta of 2.41.
Insider Activity at Lovesac
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in Lovesac by 333.1% during the third quarter. IFP Advisors Inc now owns 615 shares of the company’s stock valued at $25,000 after purchasing an additional 473 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Lovesac by 1,064.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,525 shares of the company’s stock valued at $31,000 after purchasing an additional 1,394 shares during the period. Captrust Financial Advisors lifted its stake in shares of Lovesac by 110.6% during the 1st quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 303 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Lovesac during the 2nd quarter valued at $59,000. Finally, Great West Life Assurance Co. Can bought a new position in Lovesac in the 3rd quarter worth $63,000. 88.34% of the stock is currently owned by institutional investors.
The Lovesac Co is a technology driven, omni-channel company. It designs, manufactures, and sells furniture comprised of modular couches called sactionals and foam beanbag chairs called sacs. Its products include sactionals, sacs, and accessories. The company was founded by Shawn David Nelson in 1995 and is headquartered in Stamford, CT.
- Get a free copy of the StockNews.com research report on Lovesac (LOVE)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Receive News & Ratings for Lovesac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lovesac and related companies with MarketBeat.com's FREE daily email newsletter.