Torrid (NYSE:CURV) Shares Gap Down to $6.89

Torrid Holdings Inc. (NYSE:CURVGet Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.89, but opened at $6.63. Torrid shares last traded at $6.63, with a volume of 437 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CURV shares. B. Riley started coverage on Torrid in a report on Thursday, February 8th. They issued a “buy” rating and a $7.00 price target for the company. Telsey Advisory Group boosted their target price on shares of Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Monday, April 1st. Finally, The Goldman Sachs Group raised their price target on shares of Torrid from $2.95 to $5.75 and gave the stock a “neutral” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.39.

Read Our Latest Stock Analysis on Torrid

Torrid Trading Down 0.3 %

The business has a 50 day simple moving average of $5.36 and a 200-day simple moving average of $5.03. The stock has a market capitalization of $694.97 million, a price-to-earnings ratio of 66.61 and a beta of 2.02.

Torrid (NYSE:CURVGet Free Report) last released its earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $293.54 million during the quarter, compared to the consensus estimate of $276.20 million. Torrid had a net margin of 0.99% and a negative return on equity of 5.42%. Torrid’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) earnings per share. Research analysts predict that Torrid Holdings Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Torrid by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 178,039 shares of the company’s stock valued at $393,000 after purchasing an additional 6,368 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in Torrid during the fourth quarter valued at approximately $62,000. Great Lakes Advisors LLC purchased a new stake in Torrid during the fourth quarter worth approximately $93,000. O Shaughnessy Asset Management LLC increased its position in shares of Torrid by 145.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock worth $416,000 after acquiring an additional 50,466 shares in the last quarter. Finally, Fund 1 Investments LLC raised its stake in shares of Torrid by 493.6% in the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after acquiring an additional 166,841 shares during the period. 81.82% of the stock is owned by hedge funds and other institutional investors.

About Torrid

(Get Free Report)

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.

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